The development of a Southern Dallas master-planned community will get financial support from the city.
Courtesy of Russell Glen Co.
UNT Dallas President Warren von Eschenbach said Rivulet will enhance the connection between the school’s campus and the surrounding area.
Dallas City Council approved a $23.5M economic development grant for the 90-acre Rivulet community in Southern Dallas from developer Russell Glen Co.
The mixed-use development will feature around 300 single-family homes, 240 multifamily units and a 20-acre retail district envisioned to include a neighborhood grocery store, shops, office space, restaurants and a public library/innovation center.
Russell Glen acquired the site at the northwest corner of University Hills Boulevard and Camp Wisdom Road in 2022 from the late civic leader and former Dallas Cowboys tight end Pettis Norman. Russell Glen CEO Terrence Maiden said the company has been methodical in designing Rivulet to resonate with Norman’s vision to uplift the character and identity of Southern Dallas.
“With the City’s infrastructure investment, we’re able to deliver high-quality residences, offering a new level of housing choice that balances beauty, livability, and accessibility,” Maiden said in a statement. “We are confident that Rivulet will be catalytic for this Education Corridor of Dallas and a model for thoughtful, inclusive growth.”
Construction is expected to start in 2026 on the project, which will be directly across from the University of North Texas at Dallas.
Republic Property Group will manage infrastructure construction of the project.
SALES
Bell Partners purchased The Albee Apartments, a 355-unit multifamily community in Frisco. The property was acquired on behalf of the company’s Bell Value Add Fund VIII and will be renamed Bell Southstone Yards.
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PlaceMKR purchased the 325K SF Industrial Boulevard Portfolio in Rockwall from a local family partnership. The 10-building industrial asset at 2005 and 2020 Industrial Blvd. was constructed between 1976 and 1997 on more than 21 acres. Marcus & Millichap’s Adam Abushagur, Davis Cagle, Tyler Ranft and Gunnar Vachris represented the seller and procured the buyer.
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Courtesy of LCP Media
The McKinney Village multifamily community was completed in 2017.
An affiliate of Equus Capital Partners sold the 245-unit McKinney Village multifamily community in McKinney to Weidner Apartment Homes. The sale was completed on behalf of Equus Investment Partnership XI, a discretionary equity fund managed by the company. Equus’ Andrew Holloway, Mike Brower, Scott Miller and Anthony Gugluizza oversaw the transaction for the firm.
LEASES
The Woodmont Co. completed a 28K SF lease with Eco Thrift at 4617 S. Hulen St. in Fort Worth. Eco Thrift is expected to open its doors in the space formerly occupied by Conn’s in early 2026. Woodmont’s Bryan Dyer represented the landlord.
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Unleashed Brands leased a 50K SF headquarters at 600 E. Las Colinas Blvd. in Irving. The company behind Urban Air Adventure Park, Sylvan Learning and other youth enrichment businesses plans to relocate its headquarters from Bedford to the Las Colinas area of Irving at the end of 2026.
CONSTRUCTION AND DEVELOPMENT
Alliance Industrial closed on a prime redevelopment site at the intersection of Interstate 35E and Interstate 635 in a partnership with Woodhaven Development as adviser and entitlements consultant. Alliance started demolition of the existing buildings and will break ground on the 362K SF Park Six35 industrial park later this year.
The three-building property is scheduled for delivery in the fourth quarter of 2026. Holt Lunsford Commercial’s Andrew Gilbert, Keaton Brice and Jon Skidmore will oversee leasing at Park Six35.
FINANCING
Walker & Dunlop arranged $192M in loan proceeds to refinance a four-property multifamily portfolio that includes the 224-unit Huntington Glen in Dallas. The 1,137-unit portfolio also includes Cortland at the Hammocks I and II in Miami and Cortland Congress Park in Denver. Walker & Dunlop’s Stephen Farnsworth led the team that arranged the Freddie Mac loan on behalf of Cortland Partners.
PEOPLE
Rise48 Equity hired Harrison Hoy as director of acquisitions and transactions. Hoy will oversee acquisition efforts, including deal sourcing, underwriting, negotiations, broker relations and expansion strategy execution. He previously served as director of acquisitions at Cantrell Investment Co.
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CMB Regional Centers added A.J. Hogan as economic strategy and data insights manager. With more than 15 years of experience in federal service, Hogan will focus on economic strategy, project vetting, policy integration and data analysis.