Texas regional retail real estate is practically as popular as a Taylor Sheridan TV series.
A Dallas-based investment firm has acquired a fully leased retail center in Greenville, a Hunt County town about 50 miles northeast of Dallas, from a Hollywood producer with deep real estate roots.
Dunhill Partners purchased the 220,000-square-foot Greenville Promenade, at 6834 Wesley Street, from Bob Yari, a film and television producer known for his work on “Yellowstone,” “Crash” and “Hostage.”
Yari, also credited as executive producer on the Sheridan-created series “1923” and “Landman,” was a prolific real estate investor before turning to entertainment. A 2003 Variety article reported that Yari had financed a portfolio of retail and office assets across Texas and California.
Dunhill CEO Bill Hutchinson said the nearly 22-acre retail center, home to tenants like Spec’s, Petco and Staples, fits into the firm’s long-term strategy along the growing Interstate 30 corridor. Hunt County’s population has surged nearly 19 percent since 2020, with neighboring Kaufman County ranked as the second-fastest-growing in the U.S.
Dallas-Fort Worth’s retail market has hit record lows amid high demand and a stagnant development pipeline. Vacancy fell to 4.9 percent in the first quarter, according to Weitzman.
Here’s what else happened in Texas real estate this week.
- A Dallas-based multifamily investor is facing foreclosure on more than 2,000 units across 12 properties in northern Florida. Lender Acore Capital Mortgage plans to auction the properties, owned by Lurin, with mortgages totalling $383.6 million.
- Office developer Harwood International is facing foreclosure on another of its high-profile holdings in Uptown Dallas. The developer defaulted on an $80 million mortgage tied to Harwood No. 4, a 20-story office building at 2828 North Harwood Street, according to Roddy’s Foreclosure Listing Service. Square Mile Capital, which merged with USAA Real Estate in 2023 to become Affinius Capital, provided the loan in 2019. Harwood recently worked out a foreclosure attempt on its Saint Ann Court development.
- Miami-based Starwood dropped $800 million on 11 master-planned communities in Texas. It bought the portfolio, which includes 16,000 lots in the Austin, Dallas and Houston metro areas, from Hines.
—Rachel Stone
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