ROYSE CITY, TX-Fountain Capital has arranged the purchase of a large parcel of land in Rockwall County where the buyer hopes to develop a residential project.
The real estate investment firm arranged the sale of about 322 acres of land south of Interstate 30 near F.M. 548 to an undisclosed limited liability company, according to a report in the Dallas Business Journal.
The buyer plans to hold the property for future sale or development, which could include a single-family development.
In October, Dallas-based Fountain Capital formed an affiliated limited partnership, Fountain Mathes I L.P., with plans to raise $14 million, according to filings with the Securities & Exchange Commission.
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