A 1,476-acre ranch that crosses the border of Tarrant and Parker counties is set to become a new development of an expected 3,800 homes.
Houston-based developer Hines announced on Friday it has acquired Brown Ranch, with plans for a master planned development with single-family housing, featuring an array of lot sizes and price points and approximately 70 acres of commercial development.
No price for the acquisition was released, but Harvest Capital, which is providing financing for the acquisition along with TPG Credit, said in late September it had closed on a $140.9 million loan for the acquisition and development of Brown Ranch. Trez Capital is capital partner on the project…