(September 26, 2016—AUSTIN) Hillwood Communities, a Perot company that specializes in creating master-planned developments, announced today an investment in SouthStar Communities, a nationally-recognized real estate investment, development and management firm. The partnership will focus on SouthStar Communities’ existing holdings of residential communities in Texas and Georgia. SouthStar will continue to manage the operations and development of these projects going forward.
“Hillwood Communities represents the pinnacle of master-planned community developers,” said Thad Rutherford, COO of SouthStar Communities. “We’ve long shared the same commitment to delivering well-planned lifestyle communities. This new venture combines SouthStar’s legacy as a community developer, marketer and operator with Hillwood Communities’ unparalleled expertise in the residential community development.”
The companies worked together in the past on these same properties, including the Vintage Oaks community in New Braunfels, Texas.
“SouthStar is a quality developer and has been operating these assets successfully for years. We have the exciting opportunity to continue our strategy of investing with other first-class residential developers who have a history of successful operations and developments,” said Danny Ellis, Vice President of Hillwood Communities. “We look forward to combining our expertise to develop these great communities and grow this relationship.”
Hillwood Communities and SouthStar will focus their attention on three projects; Vintage Oaks, a 3,300-acre master-planned community located in New Braunfels, Texas; The Crossings, a 288-acre residential community in New Braunfels; and King Oaks outside Bryan-College Station, a 950-acre community.
About SouthStar Communities
SouthStar Communities is a nationally-recognized real estate investment, development and management firm headquartered in Austin, Texas. SouthStar invests in and develops properties for its own account and in partnership with institutional and high-net-worth investors, and provides services to third-party clients including acquisition, entitlements, planning and development, project management, design oversight, marketing and branding strategy, and asset management. SouthStar currently has six active communities in Texas including Dallas, College-Station, the Texas Hill Country, and San Antonio, plus holdings in Georgia. Originally founded in Coral Gables, Florida in 1989, SouthStar has developed over 30,000 acres in 30 communities across the Southern United States. For more information, visit www.SouthStarCommunities.com.
About Hillwood Communities
Hillwood, a Perot company, is a premier commercial and residential real estate developer, investor and advisor of properties throughout North America and Europe. With a diverse portfolio of properties and home to many of the world’s leading companies, Hillwood is committed to bringing long-term value to our customers, partners and the communities we serve.
Through its Communities division, Hillwood has delivered more than 24,000 single-family lots in 80 master-planned communities. From single-family homes to high-end luxury vacation residences, Hillwood’s residential communities embrace the company’s LiveSmart principles, creating a sense of community while integrating technology, healthy living, environmental stewardship and education. Please visit www.HillwoodCommunities.com for more information.
Hillwood is best known for its Alliance brand, featuring the 18,000-acre AllianceTexas, 2,000-acre AllianceCalifornia and 4,474-acre AllianceFlorida. Its founding project, AllianceTexas, has been hailed as one of the best mixed-use developments in the world, generating more than 40,000 jobs and $55 billion in local economic impact to date. Outside of AllianceTexas, Hillwood Investment Properties is focused on institutional-grade industrial/logistics properties and has developed and acquired more than 84 million square feet in North America and Europe.
Hillwood also served as the lead developer of marquee projects nationwide, from the Air Force Memorial in Washington, to the Perot Museum of Nature and Science and the American Airlines sports arena in Dallas. For information, please visit www.hillwood.com.