NRP Breaks Ground On Affordable Denton Project: The DFW Deal Sheet
One of Dallas-Fort Worth’s fastest-growing cities is set to get a new affordable housing development.
The NRP Group and the Denton Housing Authority announced the financial closing and groundbreaking of Arbor Ranch last week. The 297-unit affordable housing community at 2820 Roselawn Drive in Denton will provide homes to families earning between 30% and 70% of the area median income.
The project will feature nine three-story buildings on 22 acres.
"This groundbreaking is a testament to the strong collaboration of our public and private sector partners who are all deeply committed to increasing available high-quality, affordable housing for the residents of Denton,” The NRP Group Vice President of Development Nick Walsh said in a statement.
Walsh said Arbor Ranch will be The NRP Group’s most modern affordable product to date. The project is expected to deliver its first units in early 2027.
Truist Bank provided comprehensive financing for the project, including a $68M construction loan, $48M in permanent financing through its subsidiary, Grandbridge Real Estate Capital, and a $33M low-income housing tax credit equity investment.
SALES
CIM Group sold the 177K SF Best Buy Plaza shopping center at 9358 N. Central Expressway in North Dallas to an undisclosed buyer. CIM Group acquired the property in 2016 and completed capital improvements during its ownership. The shopping center was 100% leased at the time of the deal. JLL represented CIM Group in the transaction.
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Madera Residential purchased the 283-unit Jefferson Cove multifamily community in Grand Prairie from TDI. Newmark’s Brian Murphy, Brian O’Boyle Jr. and Richard Furr represented TDI in the transaction, while the firm’s Purvesh Gosalia arranged acquisition financing on behalf of Madera Residential.
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Marcus & Millichap announced the sale of the 153-room Courtyard Dallas DFW Airport North/Irving hotel in Irving. Marcus & Millichap’s Chris Gomes and Allan Miller represented the seller, a private buyer out of California, and procured the undisclosed buyer. The property was built in 1997 and renovated in 2025.
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B&D Holdings acquired the infill industrial outdoor storage property at 1210 E. Avenue J in Grand Prairie. The deal was brokered by Davidson Bogel Real Estate’s Philip Cherrick and David Guinn.
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New York Life sold the 549K SF Pinnacle Tower to Estein USA and Vanderbilt Office Properties earlier this month. The 24-story office property at the northwest corner of Lyndon B. Johnson Freeway and the Dallas North Tollway was 88% leased at the time of the deal. JLL’s Blake Shipley, Gini Rounsaville and Ashley Curry will handle office leasing at Pinnacle Tower.
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Clover Capital Partners bought two multifamily assets in Dallas from Pardue Cos. The properties are the 220-unit Creekstone apartment complex built in 1982 and the 152-unit Gable Point development constructed in 1986. Institutional Property Advisors’ William Hubbard, Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Jack Windham represented the seller and procured the buyer.
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Marcus & Millichap announced the sale of the 105-unit Lakefront Villas apartment community in Richardson. The 11-building complex was built in 1968 on almost 6 acres at 900 W. Spring Valley Road. Marcus & Millichap’s Al Silva and Ford Braly marketed the property on behalf of the seller, a local operator, and procured the buyer, a private investor.
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Bradford Commercial Real Estate Services sold a vacant industrial project with outside storage in southeast Fort Worth on behalf of an out-of-state private investment group. The 20K SF project is on 1.36 acres at 5251 and 5255 Wilbarger St. Roughly 40% of the fenced site is outside storage. Bradford Commercial Real Estate Services’ Luke Clardy and Cade Navarro represented the Virginia-based seller, 5251-55 Wilbarger LLC.
The buyer, 4K Lift Co. LLC, will relocate its operations during the second quarter to Fort Worth from a leased site in Dallas. The company, which sells used forklifts and parts, plans to upgrade the storage yard and add a showroom to the larger of the property’s two buildings.
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Pardue Cos. sold the three-property Greenville Value-Add Portfolio to an undisclosed buyer. The 428-unit multifamily portfolio in Greenville includes:
- the 112-unit Ridge Apartments built in 1985;
- the 172-unit Highland Terrace completed in 1978;
- and the 144-unit Stone Ridge Apartments constructed between 1968 and 1983.
Institutional Property Advisors’ William Hubbard, Taylor Hill, Michael Ware, Drew Kile, Joey Tumminello and Jack Windham represented the seller and procured the buyer.
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A California-based investor sold the 44K SF office property 8333 Royal Ridge Parkway in Irving to a Texas-based owner-user. Built in 2000, the property sits on 3.6 acres in the Las Colinas/Freeport business park. Marcus & Millichap’s Joseph Jaques and Ron Hebert marketed the property and sourced the buyer.
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Dallas-based Younger Partners Investments acquired a three-property retail portfolio at Interstate 35W and North Tarrant Parkway in North Fort Worth from developer Weber & Co. The 375K SF portfolio, known as Presidio Junction, consists of three contiguous retail centers: Presidio Towne Crossing, Tehama Towne Crossing and Vista Ridge.
Younger Partners’ Micah Ashford, Moody Younger, Kathy Permenter, Cort Martin and Susan Rasberry represented the buyer, Younger Partners Investments. Younger Partners Property Services will provide property management, while Younger Partners will handle leasing at Presidio Junction. Institutional Property Advisors’ Adam Mengacci arranged financing for the transaction that closed on March 16.
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Dossun Truck Body Parts Industrial Co. purchased the nearly 41K SF speculative project at 1207 Farmers Road in Grand Prairie from Hamilton Commercial in an all-cash transaction. Hamilton developed the 3.39-acre site that Dossun, which manufactures and distributes truck parts, plans to use as its first facility outside Taiwan. Bradford Commercial Real Estate Services’ Erik Blais represented the developer. Frank Hwang of Marie & Marcus Group represented the buyer of record, JJ&L Capital LLC.
LEASES
DSV Contract Logistics signed a more than 1M SF lease at Northlake 35 Logistics Park at 3400 E. Catherine Court in Northlake. Colliers’ Ward Richmond, Cole Hooper, James Ewing, Keller Strauss and Amanda Richards represented DSV, while Clarion’s Courtney Phelps, Texas Commercial Development’s Doug Johnson and KBC represented the landlord during negotiations.
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Ford Motor Co. renewed nearly 22K SF of flex space in Waters Ridge Tech Center III at 1825 Lakeway Drive in Lewisville. Bradford Commercial Real Estate Services’ Brian Pafford and Jared Laake represented the landlord, Kennington Waters Ridge II & III LLC. CBRE’s Vada Haynes and Will Haynes represented the tenant.
CONSTRUCTION AND DEVELOPMENT
Mattamy Homes broke ground on Lake Highlands Village, a gated townhome neighborhood in the Lake Highlands area of Dallas. It will include 85 townhomes. Lake Highlands Village is expected to launch sales in June 2027, with closings anticipated as early as September of that year.
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Foundry Commercial plans to begin demolition of an outdated office building in Irving this month to make way for the 110K SF Ridgepoint industrial development.
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Multifamily developer Wood Partners closed on Alta Preserve in Allen and plans to break ground on the 311-unit community this month. Alta Preserve will be a four-story, wrap-style development that is expected to be delivered in the second quarter of 2027. Alta Preserve marks Wood Partners’ third phase of construction at the 135-acre The Farm master-planned development in Allen.
JLL Capital Markets secured refinancing for the 322-unit Resia Rayzor Ranch multifamily community at 3130 Heritage Trail Blvd. in Denton. JLL represented the borrower, Resia, in arranging the loan through Ares Commercial Real Estate. JLL Capital Market’s Jesse Wright, Philip Galligan and Lauren Dow represented the borrower.
PEOPLE
JLL hired Marti DuBuisson as vice president of its Project and Development Services team in Dallas. With more than 20 years of workplace interior design experience, DuBuisson will manage interior projects and work closely with brokerage teams to deliver spaces that meet clients’ needs and goals.
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The Texas Stock Exchange added Greg Ferrari as its chief operating officer and Liz Hocker as global head of listings and capital markets. Ferrari brings more than two decades of experience in exchange operations and market structure, most recently as head of North American exchange trading at Nasdaq. Hocker has more than 30 years of experience in capital markets, banking and business operations, most recently as the regional head of capital markets at the New York Stock Exchange.
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Dallas-based Rosewood Property Co. hired Patrick Hart as vice president of investments. Hart will focus on self-storage and industrial real estate analysis, sourcing acquisitions and development opportunities nationwide. He brings more than a decade of experience to the role.
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Cawley Partners added Brian Straley as a partner. Straley will lead the firm’s build-to-suit division, leveraging nearly 30 years of experience in development management, general contracting and preconstruction.
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RealPage appointed Zahir Khoja as chief fintech officer. Khoja will lead the company's financial technology strategy and operations. Khoja has more than 20 years of global leadership experience and was most recently CEO of Wave Financial Inc.
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Northmarq promoted Jeffrey Erxleben to president of capital markets. He will oversee the company’s national debt, equity and investment sales platforms. Erxleben has been with Northmarq for 23 years and was most recently president of its debt and equity platform.
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Kane & Company Insights LLC appointed Jacob Hormes as a partner in its Dallas headquarters. Hormes brings more than a decade of consulting and private equity advisory experience.
THIS AND THAT
Vector Systems Inc. will relocate its headquarters from McKinney to Bonham. The company plans an 18K SF expansion at its new facility at Albert Broadfoot Street and County Road 1565 across from Jones Field Airport to house assembly operations and temporary offices. Vector will also lease 22K SF on the east side of Jones Field Airport. The added manufacturing space will allow the company to nearly double its workforce within three years.
