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SOURCE Southstar Woodcreek Developer, LLC
DALLAS, Oct. 8, 2013 /PRNewswire/ -- A group of investors has purchased the remaining 850 acres of residential and commercial property in the Woodcreek master planned community in Fate, Texas, a suburb of Dallas. The investor group, Southstar Woodcreek Developer, LLC (SWD) intends to continue developing the community and providing tracts to regional and national builders. Currently, over 1500 homes have been constructed in Woodcreek with the potential build out of over 4600 homes.
To ensure continuity, SWD has retained the current management firm, Provident Realty Advisors, a well-respected Dallas based investment, development and management organization, to provide oversight of day to day community operations.
Patrick Sessions, the Managing Director of SWD said, "Our group of seasoned real estate investors and managers are very excited to be a part of this thriving Metroplex community. We are impressed with the variety of homes, the excellent condition of the community and the wide range of lifestyle choices available to residents."
"To that end," Sessions added, "we plan to enhance the community even further by adding a new amenity center, making some improvements to the current center, improve on-site signage and reinvigorate the marketing program. During this effort we intend to involve our valued builders and residents to help insure that we are going in the right direction."
The purchase was financed by United Development Funding (UDF), a national full service residential real estate financing company based in the Dallas-Ft Worth Metroplex. UDF provides land acquisition and development loans and equity financing to experienced developers for the development of entitled land into single family residential finished lots as well as interim construction lines to accomplished regional homebuilders for the construction of affordable single family homes.
Woodcreek is located seven miles northeast of Lake Ray Hubbard in Rockwall County near Interstate 30. The master planned community includes an amenity center, complete with an oversized gourmet kitchen, media and conference room, outdoor patio, fitness facility and children's play area. The sport fields, a Jr. Olympic-size pool and splash park overlook the community's lake. Two highly ranked elementary schools and a large city park are located within the community. Homebuyers can choose from dozens of floor plans with lots available in three distinct neighborhoods within the community.
For further information, visit http://www.woodcreekfate.com
For Southstar Woodcreek Developer, LLC
For United Development Funding
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