Texas CRE Firms Announce 5-Development Joint Venture for Multifamily Properties

Irving-based JPI today announced a joint venture with Lubbock-based Madera Residential and WayMaker on five new developments across North Texas, according to a news release.

According to the release, those five developments will provide over 1,750 Class A multifamily units.

When completed the portfolio will include nine total communities. The first five are named Jefferson Railhead, Jefferson Grandscape, Jefferson Cedar Ridge, Jefferson Northlake, and Jefferson Peninsula.

According to the release, by the end of 2022, the parties have agreed expect to start construction on another four communities. In total the nine communities will have 3,300 units that will be valued at over $1 billion.

Read the full story at Dallas Business Journal.