Hillwood Communities Purchases 52 Acres in North Fort Worth for Residential, Commercial Development
Hillwood Communities Press Release - October 3, 2011
Fort Worth, TX - Hillwood Communities, a Perot company, announces the purchase of 52 acres zoned for both residential and commercial use in North Fort Worth. The property is conveniently located at the northeast corner of FM 1709/Golden Triangle Boulevard and Beach Street.
"Hillwood is committed to the communities it serves and we are proud to develop this key property in the north Fort Worth area," said Brian Carlock, senior vice president of acquisitions for Hillwood Communities. "The improvements we will make will greatly enhance the area and provide a safe, attractive community for businesses and residents."
Hillwood will begin construction in late 2011 to improve Beach Street at this intersection, widening almost a mile of Beach Street to include a four-lane roadway connecting Keller Hicks Road and FM 1709/Golden Triangle Boulevard. This crossroad will provide tremendous mobility, as well as convenient access to Alliance Town Center, highways I-35W and 170, Keller, Southlake and the new Texas Health Resources hospital.
Ken Reimer and David Davidson Jr. of Venture Commercial Real Estate represented Hillwood Communities and the seller, Realty Capital Golden Beach, in this transaction, and will continue to assist Hillwood in securing retail tenants for the commercial property.
"This was a complex transaction with a unique set of challenges, and Hillwood Communities stepped in and provided the creativity, sophistication, and leadership that were essential to making this happen," said Davidson Jr. of Venture.
Hillwood plans to aggressively market the property and has seen strong interest for the commercial acreage, including gas station, grocery, medical office and restaurant prospects.
For more information about Hillwood Communities, please visit www.hillwoodcommunities.com.
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