TMCnet News
Texas Republic Management Targets Golden Corridor for Individual Investment OpportunitiesJust as the expansion of the Dallas North Tollway north from U.S. 380 to the Grayson County line is set to begin, Texas Republic Management (TRM) is offering individual investors an opportunity to participate in what has become known as the Golden Corridor. The company acquired more than 700 acres in Grayson County and the Pilot Point area and has more than 1,000 additional acres under contract. "What makes TRM different today is that we are expanding investment opportunities beyond the partners we have worked with for many years in real estate and oil and gas and seeking individual investors to participate in the continued growth and profit this area has to offer," said Ben R. Weber, TRM general partner. "The extension of the Dallas North Tollway through Frisco to U.S. 380 spurred tremendous growth a decade ago," said broker Rex Glendenning, a Celina native and veteran of the North Texas and Golden Corridor real estate market, "We expect the same thing to happen again with this latest extension of the tollway." TRM was formed by Weber, an oil and gas operator who put together a group of real estat veterans who have been successful in finding and acquiring opportunities that are available despite the area's high profile and growth. After an unprecedented sale of oil and gas divestitures between 2010-2014 totaling $6.5 billion with partners, Weber chose to focus on more tangible investments such as mineral and real property ownership versus riskier oil and gas exploration ventures. "As a lifelong resident of Dallas, it was hard not to see the explosive growth and development along the path of the Dallas North Tollway," Weber said. "I am not a person who can sit on the sidelines and watch, I had to become involved. My oil and gas partners and I became involved in the real estate market 10 years ago along the corridor, and it has been a huge success. "There are tech companies now that have made major commitments and are building multi-billion-dollar facilities in Sherman, such as Texas Instruments and Finisar," said Weber. "The growth rates are phenomenal. For example, Celina has experienced a 95% growth rate in the past three years and is one of the fastest-growing cities in Collin County. So, TRM focuses where industrial and residential growth is active, and it certainly is active in the North Texas area of the Golden Corridor. "Capitalizing on the opportunity that still exists here requires a savvy broker such as Rex Glendenning and a team such as ours who can identify properties that may be available at promising investment level pricing," said Weber. "Because TRM is well funded, we can make cash offers without leverage and without any form of contingency on financing which allows us to move quickly. Sellers love us. "A number of the areas that we buy in are being sold by owners that have in some cases owned their property for up to 100 years," says Weber. "Their reasons for selling are varied but often we see that there is someone in the family that has either passed away and it is time for family members to divest or it can be long-term owners who have enjoyed the farm and ranchlands for decades and now with the boom in growth, the profit margins are too great to resist selling…there are as many reasons for selling as there are acres for sale. "The land TRM purchases is syndicated into partnerships with TRM as the general partner overseeing the investments and to hold it until there is an ROI which merits a sale," says Weber.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240212926037/en/ |
