HOUSTON-Sekisui House Ltd. is teaming up with San Diego-basedNewland Real Estate Group LLC to buy nearly 500 acres of landoutside Houston. The acquired land will eventually house more than1,200 homes.
This new project will expand Cinco Ranch, a 19-year-oldcommunity. Once the infrastructure is complete, the joint venturewill sell the lands meant for building homes to builders. Althoughthe terms of the transaction was not disclosed, local agents saidthat the deal exceeded $10 million. For the full story, goto Wall Street Journal.
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