Texas Republic Management LLC has acquired 375 acres of land in Grayson County for potential future development.
The Dallas-based firm purchased the tract of land from Midas Global Investments LLC on November 22. The acreage is located northwest of Gunter, near what will eventually become the Dallas North Tollway extension.
Texas Republic Management, or TRM, forms, manages, and invests in raw land ventures in the “Golden Corridor,” the region that spans the area between the Dallas North Tollway and Preston Road and eastward to Highway 75.
“Texas Republic Management’s objective is to utilize capital contributions to purchase strategic properties throughout the North Texas “Golden Corridor”. Through our Partnerships we hope to maximize the value of the property by preparing it for resale with either one or multiple sales to provide our partners with the maximum return on their investment,” reads a description on TRM’s website.
The parcel of land was carved out from a larger 1,215-acre property purchased by Midas in 2022. TRM plans to hold the land, zoned for mixed-use, for future development. The firm’s executives say that could occur within the next three to five years.
Rene Elgersma, vice president of operations at TRM, says the firm was drawn to the region because of the numerous high-profile developments in the surrounding areas.
Sherman, in Grayson County, has experienced an explosion in semiconductor manufacturing. Meanwhile, Legacy Hills in Celina will eventually host 7,000 single-family homes and more than 4,000 apartments.
Earlier this year, The Dallas Express reported that Nearby Lake Texoma is set to welcome a $6 billion mixed-use development alongside a $100 million, 250-room Margaritaville resort.
In short, there is a lot of activity in the region.
No details about the sales price have been disclosed. Caleb Lavey and Rex Glendenning with Rex Real Estate LLC of Frisco represented both sides in the transaction.