HPI Real Estate Services & Investments (HPI), headquartered in Austin, Texas, acquired the property at the southeast corner of Bonds Ranch Road and Blue Mound Road. HPI’s plans include:
- Approximately 636 multifamily rental units.
- Approximately 193 single-family rental units with attached garages and yards.
- Amenities will include clubhouses, resort-style pools, pickleball courts, and walking trails.
“We are focused on growing our North Texas portfolio as it is one of the strongest real estate markets in the country,” said Tim Shaughnessy, President of HPI Multifamily. “Strong employment and population growth in the Alliance Corridor has created a demand for high-quality rental housing. We look forward to breaking ground in early 2023 and residents moving into both our apartments and single-family homes the following year.”
Collins Meier, Ryan Turner, David Davidson Jr., and Edward Bogel of Davidson & Bogel Real Estate brokered the transaction.
“The demand for rental product continues to accelerate with growth in renters by choice and as home buyers battle rising interest rates paired with historically high home prices,” said David Davidson Jr., co-founder of DB2RE.
HPI Real Estate Services & Investments is a full-service commercial real estate firm with offices in Austin, Dallas, Houston, and San Antonio. The company has more than 30 years of experience developing, managing, and investing in multifamily, self-storage, senior, office, and industrial real estate. For more about HPI, visit HPITX.com.
Davidson Bogel Real Estate (DB2RE) is a boutique land investment advisory group and brokerage firm headquartered in the Dallas-Fort Worth Metroplex. Founded by David Davidson, Jr. and Edward Bogel in 2015, the base principal of the company is exceptional client service with investment and development of land throughout Texas and Oklahoma as the focus. DB2RE concentrates on land acquisitions, dispositions, and investment sales for families, trusts, and developers of retail, multi-family, industrial/mixed-use, and single-family communities.