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Tasacom buys 129 acres from Walton Global
Walton provided $12M financing in offloading Collin County tract
Walton Global has offloaded a swath of land in a growing area northeast of Dallas.
The Arizona-based firm sold 129 acres in the Collin County town of Princeton to PIC Real Estate, an affiliate of Dallas-based Tasacom Real Estate, which is led by Md Tauhid Choudhury, the Dallas Morning News reported.
The price wasn’t disclosed, but the purchase was financed with a $12 million loan from Walton Global, according to Collin County records. Residential development is earmarked for 116 acres, and commercial development will comprise 13 acres, according to a news release from Walton Global.
The acreage is within the Princeton Master Plan, which the town adopted in November to address annexation and land use in the wake of explosive growth. The town’s population increased 34 percent, from 17,000 to 22,900, between 2020 and 2022, according to the U.S. Census Bureau. The median annual household income is almost $94,000.
“The DFW area is pro-growth and pro-development, and we hope to continue to expand our presence there,” said Walton Global CEO Bill Doherty.
Walton has an expansive Dallas-Fort Forth portfolio. It owns more than 13,000 acres in the region, and it holds about 90,000 acres in North America. However, the firm has been on a selling spree since last year.
In April 2022, Walton sold a 1,200-acre tract in Grayson County, north of Dallas, to an affiliate of Frisco-based REX Real Estate. Walton distributed about $36 million to investors as a result of the transaction.
Eight months later, the company offloaded 703 acres in the 6,700-acre Hunt County Master Plan, not far from the Princeton tract. At full build, the site will feature residences, retail, parks, schools, offices and industrial space.
Elsewhere in Princeton, Chicago-based Core Spaces is developing a built-to-rent community with more than 400 homes. The project, dubbed Oxenfree, will comprise a mix of single-family dwellings and townhomes.