Director Property and Development Accounting - Mixed-Use

Hines buys 1,476 acres for planned 3,800-home Fort Worth community. Hines acquired the 1,476-acre Brown Ranch in Fort Worth, where six builders are expected to deliver approximately 3,800 homes over multiple phases. Summary. Hines acquired 1,476 acres for a planned 3,800-home Fort Worth community. Six builders are named, including HistoryMaker, whose assets were subsequently acquired by Century Communities. Hines has acquired the 1,476-acre Brown Ranch in western Fort Worth, Texas, for a master-planned community expected to contain approximately 3,800 homes at full buildout. The land purchase is complete, according to the developer's October 5 announcement, but the planned homes are not yet completed or under construction. Hines named six participating homebuilders: Beazer Homes, DRB Homes, HistoryMaker Homes, Meritage Homes, Pulte Homes and Risewell Homes. The plan also includes about 70 acres of commercial development, three or more amenity centers, ten neighborhood parks and connected trails. Hines did not disclose the land purchase price, a detailed construction schedule or planned home prices. The site lies within the Aledo Independent School District along a western growth corridor of Dallas-Fort Worth. Hines cited an approximately 8.5 million-person metro population in 2025 and Fort Worth's growth past one million residents. Those figures explain the developer's interest in the area but do not establish the number of homes that buyers will absorb at any particular price. Trez Capital is serving as a capital partner, with acquisition and development financing from Harvest Capital and TPG Credit. The company did not specify debt balances, equity commitments or interest rates. Until those terms and infrastructure milestones become public, the financial risk and timing of individual phases cannot be assessed independently. One development since the land announcement involves HistoryMaker Homes. Hines listed HistoryMaker as a Brown Ranch builder on October 5. On October 8, WRE News reported Century Communities' acquisition of HistoryMaker's assets. Neither company has said whether that ownership change affects the builder's participation in Brown Ranch. The project could eventually expand housing supply in a fast-growing part of North Texas. Hines says the builders will offer different lot sizes and price points, but it has not released an affordability commitment or product-level price schedule. A large announced unit count is therefore an indication of planned capacity, not proof that lower-priced homes will reach the market. Infrastructure will be a critical test. Roads, drainage, utilities, school capacity and commercial services must keep pace with residential construction. Hines says the plan will retain mature trees, rolling terrain and a creek corridor, although the precise extent of those protections will depend on engineering and approvals. The announcement also comes as borrowing costs weigh on new-home demand. Freddie Mac reported a 7.40% average 30-year mortgage rate October 8. That is a current national benchmark, not a prediction of mortgage pricing when homes at Brown Ranch are offered for sale. The acquisition is a concrete milestone for a development of unusual scale. The next meaningful evidence will be infrastructure starts, recorded lot deliveries, builder permits and home closings. Until then, the 3,800-home figure remains Hines' full-buildout expectation.

HGAR, White Plains, accuses landlord of negligence. Claims HVAC system is broken. HGAR, a nonprofit real estate association in White Plains that represents real estate professionals, including landlords, is suing its landlord for allegedly failing to repair or replace air conditioners. Hudson Gateway Association of Realtors Inc., as the organization is more formally known, accused Hines Interest Limited Partnership of negligence, in a lawsuit filed on Sept. 15 in Westchester Supreme Court. HGAR claims it was deprived of "safe and suitable working conditions" and "was compelled to abandon or partially abandon the use of the premises." The association represents thousands of real estate professionals in New York City and the lower Hudson Valley, and it runs a multi-listing service by which brokers share information about properties that are up for sale. Its offices are in The Source at White Plains, One Maple Avenue at Bloomingdale Road. In 2023, Hines, a global real estate investment and management business based in Houston, bought The Source for $112 million. Among the tenants besides HGAR were a Whole Foods grocery, Dick's Sporting Goods, and the U.S. headquarters of the French food and beverage company, Danone. The dispute goes back to 2015 when HGAR was based at Westchester Pavilion, a complex at South Broadway and Maple Avenue that has since been demolished. It made a deal with its landlord, Urstadt Biddle Properties Inc., of Greenwich, Connecticut, to relocate across the street to The Source. The deal required the landlord to maintain an existing HVAC system and install zoned air conditioners, according to the complaint. A 2016 amendment required the landlord to install three smaller HVAC units instead of modifying an existing 50-ton unit on the roof. HGAR claims that when it notified Hines that HVAC systems were failing the landlord refused to replace them. HGAR replaced a 10-ton HVAC unit at its own cost, due to an emergency, and now a 30-ton unit is not functioning properly, the complaint states, creating concerns about the "health and wellbeing of staff and guests." Besides negligence, HGAR accused Hines of breaches of lease, the covenant of quiet enjoyment, the covenant of good faith and fair dealing, and the duty to perform in workmanlike manner. It is demanding unspecified monetary damages and restitution and is asking the court to make the landlord repair and maintain heating and cooling systems. The Hines press office did not reply to a message asking for its responses to the allegations. HGAR is represented by Greenburgh attorney Patrick J. Bliss.