Sumitomo Forestry, Hines, Trez Capital, And Caravel Ventures Acquire 528-Acre Development Site In Waller, Texas

Hines, along with partners Toshiro Mitsuyoshi, Laura Hines-Pierce, Morley Greene, and Don Dykstra, has purchased a 528-acre development site in Waller, Texas. The property is located in the fast-growing Northwest Houston exurb and will be developed into a master-planned community with 1,400 single-family homes. Construction of the first phase, consisting of 350 homesites, will begin in December and is expected to be completed by summer 2025. The community will feature homebuilders such as Chesmar, Brightland Homes, Tri Pointe, and Highland Homes.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: Not specified
• Market: Waller
• Acres: 528

The buyer of the development site is Sumitomo Forestry, represented by Toshiro Mitsuyoshi. Hines, Laura Hines-Pierce, represents Hines in the deal. Trez Capital is represented by Morley Greene, and Don Dykstra represents Caravel Ventures. The transaction was facilitated by broker Bill Byrd of Colliers.