Derrick J. Turnbull, previously with JPI in Irving, tells GlobeSt.com that he's negotiating to acquire several high-profile locations in Dallas/Fort Worth for the market entry. He says SNK Realty, which owns more than 5,000 units predominately in California and Arizona, hopes to have 400 units under construction this year in Dallas/Fort Worth. The multifamily developer builds rental and condo product, sometimes in combination with retail space. The 5,000-unit portfolio also includes Utah and New Mexico.
Turnbull, SNK's VP and director of development, says he plans to have a team of 10 in place when the Preston Center office is running full speed for construction, property management and development. He says Dallas/Fort Worth is the development focus for now, but his efforts will be expanded to Phoenix, Houston and Austin as the plan ramps up.
The 17-year professional left JPI about a month ago after a 10-year stint to get SNK off the ground in Dallas. Turnbull was a vice president and area partner for development who helped to found JPI's student living division. He was involved in developing 27 student-living projects, valued at more than $620 million at 20 colleges and universities in the US. He also has worked for a German real estate conglomerate in Frankfurt and Munich.
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