A Texas land investor group headed by Vijay Borra from DFW Land Real Estate recently acquired 71 acres at the southwest intersection of the Dallas North Tollway and Mahard Parkway in Prosper, Texas.
The transaction was facilitated by Davidson Bogel Real Estate, with the team comprising David Davidson Jr. and Edward Bogel. Last August, the company acquired the neighboring land from Standridge Companies and Columnar Holdings, both based in Dallas, who owned it since 2019, according to The Real Deal. Further details regarding the transaction were not released.
The purchased land is just to the north of Firefly Park, an upcoming mixed-use development in Frisco featuring a central 200-room boutique hotel. It also borders Gates of Prosper, a retail hub owned by Jerry Jones' Blue Star Land, sitting adjacent to the Parks at Legacy neighborhood.
Since 2015, Borra has served as CEO of DFW Land and is a prominent investor in land along the tollway corridor. According to the Dallas Business Journal, the company recently acquired 50 acres in Prosper, just north of U.S. 380, last October. Additionally, in August, they purchased a 110-acre parcel on Mahard Parkway, opposite the new Children’s Health campus, north of the PGA of America headquarters.
In late March, Borra further expanded his portfolio with a 23-acre property at the southwest corner of Preston Road and Frontier Parkway in Prosper, with representation from Davidson Bogel Real Estate.
The investment group is currently focused on selling and leasing pad sites to businesses keen on the border of Prosper and Celina.
It’s not clear what will come of most of the acquired land, but housing developments could be expected. As Local Profile previously reported, by 2060, Collin County will be home to 2,438,008 people, versus the 1,168,395 expected by the end of 2024.
The city of Celina alone is rapidly expanding, with the need for additional housing a priority. According to Texas Demographic Center projections, since 2020 Celina saw a 97% increase in residents.
In January, construction was announced for a large development in the city, set to begin by Sept. 2024. Uptown Celina is set to feature four distinct single-family neighborhoods spanning over 675 acres — a $35 million project.
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