Two North Texas Firms Team Up on McKinney Home Community
September 24, 2015
Two North Texas companies are teaming up to develop a residential community in McKinney.
Grapevine-based 2GR Equity said Tuesday that its investing with Dallas-based real estate development firm Wynne/Jackson to buy 124 acres in McKinney.
The two firms are planning a 316-home residential community on the property.
Grand Homes and Shaddock Homes are buying all lots in the first phase of the project.
2GR Equity said the deal is its first lot development and first venture with Wynne/Jackson.
“Wynne/Jackson has been a top residential lot developer in the D-FW market for years, and their expertise in this product type coupled with their ability to position the property in a manner that greatly reduced our market and entitlement risk proved to be the deciding factor in our participation in this opportunity,” Isaac Gregory, a principal of 2GR Equity, said in a statement.
2GR Equity has been in business since 2011 and invests in multifamily, retail, industrial, hospitality, land, seniors housing and medical office.
Wynne/Jackson has developed over 10,000 residential lots.
By Steve Brown
Source: Dallas Morning News