Lotbanking | Dallas/Forth Worth, TX | May 2014
JEN purchased Austin Waters on behalf of a public homebuilder for approximately $13 million in May of 2014. The property is a single family village within the greater Austin Ranch master plan at the interchange of Dallas North Tollway and HWY 121, a nexus of job creation and growth in greater DFW. JEN acquired the asset in a specialty finance arrangement in which JEN agreed to fund the land acquisition and development on behalf of the homebuilder. Subsequent to acquisition JEN invested an additional $13mm in developing the land. Over the course of approximately 3 years the builder purchased finished lots from JEN, providing JEN with both a return of and a return on its investment.