HOUSTON-Sekisui House Ltd. is teaming up with San Diego-based Newland Real Estate Group LLC to buy nearly 500 acres of land outside Houston. The acquired land will eventually house more than 1,200 homes.
This new project will expand Cinco Ranch, a 19-year-old community. Once the infrastructure is complete, the joint venture will sell the lands meant for building homes to builders. Although the terms of the transaction was not disclosed, local agents said that the deal exceeded $10 million. For the full story, go to Wall Street Journal.
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