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Why Viridian’s ownership venture decided to buy McKinney’s Trinity Falls

A joint venture between The Johnson Development Corp. of Houston and Toronto-based Tricon Capital Group Inc. (TSE:TCN) acquired Trinity Falls, a 1,700-acre master-planned community in McKinney, with plans to bolster home sales in coming years.

Terms of the acquisition were not immediately disclosed. The team acquired it from Austin-based Castle Hills Partners.

Read more at Dallas Business Journal.

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TriGate sells 2 office buildings along the Dallas North Tollway in Addison

Dallas-based real estate investment firm TriGate Capital has sold two of its office buildings along the Dallas North Tollway in Addison after holding the buildings for the past six years.

The two buildings were part of a three-building portfolio TriGate Capital acquired in 2010. The original portfolio also included an office building at 14850 Quorum Drive, which was sold last year.

Read more at Dallas Business Journal.

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Dallas private equity firm assembles 35-building, $200M Texas industrial portfolio

Dallas-based private equity firm Stonelake Capital Partners has assembled a large Texas industrial portfolio with an estimated value of $200 million, with plans to hold the properties for the next three to five years.

The 35-building, 3.1 million-square-foot portfolio in Dallas, Houston and San Antonio was assembled through 11 separate transactions in the last 18 months. This portfolio will be the final investment for Stonelake’s fund, Stonelake Opportunity Partners III LP.

Read mor at Dallas Business Journal.

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Hillwood Communities’ $500M master-planned community in Celina gets underway

A $500 million master-planned community by Hillwood Communities — known as Lilyana — got underway Thursday, with an official groundbreaking ceremony. The land was owned by the Wells family since before the Civil War.

Upon completion, the 400-acre community at the northeast corner of Frontier Parkway and Coit Road in Celina will be home to 1,250 single-family homes, with the first phase of homes expected to be complete next spring.

Read more at Dallas Business Journal.

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Dallas’ JP Realty Partners buys former Geico regional hub in DFW

Dallas-based real estate investment firm JP Realty Partners Ltd. has acquired the former regional headquarters building of Geico Insurance for an undisclosed sum with plans to upgrade the property to attract new tenants.

The Chevy Chase, Maryland-based insurance company, a wholly owned subsidiary of Warren Buffett’s Berkshire Hathaway Inc., moved into a new North Texas regional hub in Richardson last August to accommodate its growing workforce of 1,600 employees in the region.

Read more at Dallas Business Journal.

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Arizona developer buys $300M, 860-acre master-planned community in DFW

Mesa, Arizona-based developer Macavity Co. has acquired a $300 million master-planned community expected to bring more than 2,800 single-family homes, a new elementary school and the Princeton City Hall to the North Texas town a few miles east of McKinney.

The 860-acre master-planned community, called Whitewing Trails, sits near Monte Carlo Boulevard and FM 75 and is the largest planned community to get underway so far in Princeton.

Read more at Dallas Business Journal.