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Transactions - FEBRUARY 4, 2020

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Hanover Property acquires 966 acres in Texas for $950m master-planned development

by Andrea Zander

Hanover Property Co. has acquired 966 acres of land for a $950 million master-planned development in Midlothian, Texas. The site is located at the northeast corner of Highway 287 and Walnut Grove Road, about 30 minutes south of downtown Dallas. Plans for the property include 2,000 single-family homes, 160 townhomes, 26 acres of commercial space and 42 acres of industrial development. Pre-development is under way, and homes will be available by early 2022.

“We’ve been jointly working with the City of Midlothian for the last year on the planning of this development,” said Ben Luedtke, executive vice president of Hanover. “The City is a great partner, and the result is the first true master-planned community of this size in Midlothian. There is substantial tree coverage, gentle rolling hills and a 50-acre lake. We will thoughtfully enhance the natural beauty that is already in place.”

Hanover’s presence and experience in the southern Dallas–Fort Worth metro

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