D.R. Horton, Green Brick Partners Make Big Land Deals

D.R. Horton expects to start construction this month on two communities totaling 507 homes near the famed Pinehurst Resort in the Raleigh-Durham market. Green Brick Partners Inc. purchased land in the Dallas-area where it plans to build upwards of 2,000 homes over the next decade.

D.R. Horton plans to build hundreds of homes in across from the newest Pinehurst Resort golf course. The company will develop two communities, named Martin Farms and The Townes at Martin Farms.

Located across the street from Pinehurst No. 10, the two communities will total 507 homes at build out. The neighborhoods will include both townhomes and single-family.

D.R. Horton spent more than $4.6 million to acquire the land for these developments, according to Moore County deed records. It represents significant growth in this market, where the builder currently has just one active community.

Green Brick Partners acquired 273 acres last month from Texas Republic Management and now plans to purchase another 294 acres with a target close date of August.

The nearly 570-acre development is expected to include 2,100 homes near Lake Ray Roberts, just north of Pilot Point in Cooke County.

Caleb Lavey and Rex Glendenning of Frisco-based Rex Real Estate Inc. negotiated the deal on behalf of both parties. TRM purchased the land three years ago. 

Construction will begin in about two years on the community, currently planned to be called Burks Ranch. The community will include a community nature preserve, trails, parks, a resort-style pool and a community amenity center.

Trophy Signature Homes, a subsidiary of Green Brick, is slated to be the project’s primary homebuilder. Burks Ranch is the second major development Green Brick Partners has announced in the area in recent months. Back in September it acquired 557 acres in Denton County 

Reported by Dallas Business Journal and Triangle Business Journal

For complete contact information for Green Brick Partners and D.R. Horton and other Top 300 Home Builders, including all corporate, region and division offices and top personnel contacts, refer to The National Builders Directory and Online Database.