Starwood Buys Master-Planned Community Portfolio From Hines

4 April 2025

Starwood is making a massive bet on Texas master-planned communities.

A partnership between Starwood Capital Group and Starwood Land picked up a portfolio of 11 Texas master-planned communities from Hines for about $800 million, according to a release from Starwood.

Trez Capital, which is a partner in nine of the communities, is also a partner in the deal, as well as Caravel Ventures, Bloomfield Homes, Sumitomo Forestry America, Estein USA and GMcivil.

The portfolio includes seven North Texas communities, three in Houston and one in Austin. The communities feature 16,000 residential lots and 600 acres of land for commercial development. They’re all in various stages of development. The price works out to $50,000 per lot, $1.33 million per acre and $72.7 million per community.

The projects in Dallas-Fort Worth are Wildflower Ranch, Creekside, Aster Park, Northspur, Myrtle Creek, Furst Ranch and Redden Farms.

Wildflower Ranch is a 1,100-acre community in Northlake. It will have 3,300 homes at full build-out. Creekside is a 287-acre community in Royse City with 1,100 lots. Aster Park is a 414-acre community in McKinney that will have 1,100 homes. Northspur is a 700-acre community east of Terrell. It will have 1,500 homes. Myrtle Creek is a 1,260-acre community in Waxahachie that will have 2,500 homes. Furst Ranch, in south Denton County, will span 1,000 acres, and it will feature about 1,400 homes. Redden Farms is a 251-acre community in Midlothian that has 793 lots.

The Houston-area communities are Brookewater, Creekhaven and Wildrye.

Brookewater is a 850-acre development in Rosenberg that will have 2,400 homes. Creekhaven is a 954-acre community outside Iowa Colony that will consist of 2,100 homes. Wildrye is a 528-acre community also near Iowa Colony that will have 1,400 homes.

Mirador is a 1,400-acre community in Southeast Austin. It will feature 2,500 single-family lots, 50 acres for multifamily and 75 acres of commercial development.

Starwood’s portfolio already includes at least 20 Texas master-planned communities, including Sunterra, which was named the top-selling community in Texas last year by real estate consultant RCLCO.

Texas is a major player in the world of master-planned communities, making up 35 percent of sales among the top 50 master-planned communities in the country, according to RCLCO. Houston is the largest master-planned community market in the country. The master-planned community market has remained resilient in the face of high interest rates, as builders can offer incentives like mortgage rate buy-downs for new-builds.