Avison Young brokers 3,173-acre land sale at State Highways 130 and 80 in Central Texas
June 9, 2022
Dallas, TX – The Dallas office of Avison Young has announced that it has negotiated the sale of 3,173 acres of land located at the intersection of State Highways 130 and 80 in Caldwell County, between San Antonio and Austin, TX. The land will be used for a master-planned community development.
Avison Young Principal, John Conger, represented the seller, Fortress Land Investments, LLC in the transaction. Kamiar Duck and David Conger with Cade Capital Group represented the buyer, RREAF Communities, a division of Dallas-based RREAF Holdings.
RREAF Communities will oversee the large community development. Preliminary plans call for thousands of residential homes in various product types, as well as retail, restaurants, hotels, offices, healthcare and light industrial uses and future school sites. The community will offer amenities including hiking and biking trails, outdoor event pavilions, athletic fields, and fitness centers. A construction timeline has not yet been established.
“The land is located 30 minutes from Austin and 40 minutes from San Antonio near the cities of San Marcos and Lockhart, TX. The acreage of the sale is significant and another indication that the Austin area will continue to expand into a larger metroplex and communities like this will be in demand,” said John Conger.
RREAF Communities plans to provide single family lots along with build-to-rent, townhomes, and multifamily properties to meet the needs of a growing population of people coming to the area.