Hebron 121 Station in Lewisville, one of Dallas-Fort Worth’s largest privately owned luxury multifamily developments, has been sold, seller Huffines Communities announced last month.
EastSky, a multifamily investor with properties primarily on the East Coast, purchased the 90-acre “resort-style” complex from brothers Donald and Phillip Huffines, co-owners of Huffines Communities, for an undisclosed amount. The development includes 1,429 units and more than 2,000 residents and is near Interstate 35E at State Highway 121, as well as Denton County Transit Authority’s Hebron Station on the A-train line.
The Huffines, Lewisville natives, began the massive project when they purchased the land in 2007, building the development out over 10-plus years and five phases.
The first phase of 250 units opened in 2011, but the property now includes both apartments and townhomes with upscale amenities including four pools, sand beaches, fountains, entertainment lounges, an on-site restaurant and convenience store and a swim-up bar.
The last phase finished about two years ago and, with some of the leasing challenges brought on by the COVID-19 pandemic behind them, the Huffines decided to put it on the market.
“We just decided it was time,” Phillip Huffines said. Click to read more at www.dentonrc.com.