MarketSpace Capital Breaks Ground on
250 Luxury Residences in Farmers Branch, Texas
August 3, 2021, Houston, Texas
Houston-based MarketSpace Capital is pleased to announce that it recently broke ground and started construction on a 250-unit, Age-restricted (55 and up), Class-A multifamily development in Farmers Branch, Texas. The development will include 250 luxury residences and is strategically located in the affluent Dallas suburb of Farmers Branch, one of the premier suburban locations in North Texas, which is evident by the rapid population growth and the 250 headquarters that reside within the city limits. The highly attractive development will include 250 units with an average size of 865 square feet. The unit mix consists of 50% one-bedroom units and 50% two-bedroom units.
According to MarketSpace Capital, the company has assembled a world-class team of professionals, engineers, contractors, operators, and designers for the entire project. In 2020, MarketSpace Capital first acquired the 6.1-acres of land adjacent to the Dallas Medical Center, just northeast of the highly traveled corner of Webb Chapel and 635 and has been working with a team of professionals to design, engineer and entitle the most ideal product for this active older adult market. “We are very pleased to have the opportunity to join forces with so many seasoned professionals on such a high profile and prestigious development” commented MarketSpace’s Founder and Chairman, Dr. Masaki Oishi. He further commented that “this entire team has been involved with this project since the beginning, and over the years, they have seen many chapters with many emotions. However, the most important chapter is the one in which we are about to write. We are honored and excited to see this through to completion.”
According to Sohail Hassan, MarketSpace Capital’s Managing Partner, “There is not another development anywhere in the Dallas Metroplex that offers such a highly visible location that is also within walking distance to such a professional, Level 3 Trauma Care hospital that continues to expand its offering to the active older adult community.”
"We are very pleased to have the opportunity to join forces with so many seasoned professionals on such a high profile and prestigious development"
MarketSpace’s Founder and Chairman, Dr. Masaki Oishi
David Rodarte, MarketSpace’s Managing Partner, commented that “this $50 million, ground-up development will take approximately 18-months to construct, and we are grateful for the support, confidence and perseverance of our capital partners consisting of First Guaranty Bank as our construction lender, and Pearlmark as our mezzanine debt partner.” Rodarte continued that “we are honored and encouraged that professional firms such as StoneStreet Development, Diesel Design Build, Robert Boyd Architects, Viewtech and Linn & Associates had the vision to see this project through to completion.”
About MarketSpace Capital – MarketSpace Capital, LLC was founded in 2017, yet its partners first started acquiring real estate together and had its investment roots in 2011 in Houston, TX. MarketSpace Capital is a Private Equity Real Estate Firm that focuses on sourcing value-add and ground-up commercial real estate investments for its esteemed capital partners. In addition to producing consistent returns, MarketSpace Capital seeks to create positive economic impact and long-term value for its investors, the property portfolio, and the communities in which MSC serves.
About the Development – The Property will capitalize on the centralized location, luxury amenities, and quality designs that balance function, and aesthetics while creating an environment that enhances the quality of life for future residents. The luxury amenities will include a resort-inspired pool, an indoor/outdoor TV lounge, grills, fireplace, a state- of-the-art fitness center with cardio equipment, free weights, and virtual group exercise. The units feature high quality finishes with an open floor plan, granite countertops, designer lighting fixtures, stainless steel appliances, washer/dryer sets, large walk-in closet, modern security system, and a structured parking garage.
For more information, please contact Sohail Hassan at MarketSpace Capital at (281) 948-3199.
MarketSpace Capital, LLC is a Houston, Texas-based private equity real estate development firm focused on ground up developments and value-add investments throughout the United States.
Disclaimer: *For sold properties, actual sales price is reported. For active investments, the Estimated Current Value is based on the Managing Member’s estimate of current value. Recent acquisitions are generally valued at the acquisition price. Values may be internally prepared. This web-page/website is for informational purposes only and is qualified in its entirety by reference to the Confidential Private Placement Memorandum (as modified or supplemented from time to time, the “Memorandum”) of any offering of MarketSpace Capital.