Trez Capital has sold a portfolio of 11 large-scale residential developments in Texas to Starwood Capital Group.

The transaction, completed in partnership with Hines, Caravel Ventures, Bloomfield Homes, Sumitomo Forestry, and GMcivil, involves a collection of master-planned communities located in the Dallas, Houston, and Austin metropolitan areas.

The portfolio includes more than 16,000 remaining residential lots and about 600 acres of commercial land across three of the largest new-home markets in the U.S. The developments are situated in high-growth submarkets, each marked by robust population increases and strong demand from homebuilders.

“This transaction highlights the strength of our strategic approach in identifying and executing high-quality real estate investments in key growth markets,” said John Hutchinson, co-CEO and global head of origination at Vancouver-based Trez. “Our partnership with Hines has been instrumental in advancing these developments, and the sale to Starwood reflects the continued demand for well-located master-planned communities in today’s evolving market.”

In the Dallas area, the projects include Wildflower Ranch, Creekside, Aster Park, Northspur, Myrtle Creek, Furst Ranch, and Redden Farms—each positioned within sought-after residential corridors. The Houston developments—Brookewater, Creekhaven, and Wildrye—are located in regions experiencing rapid suburban expansion. In the Austin area, the portfolio features Mirador, a community situated in a growing corridor known for its proximity to both employment hubs and natural amenities.

“This investment continues Starwood Capital’s strategy of acquiring well-located master-planned communities in the largest new home markets to capitalize on compelling long-term residential land fundamentals,” said Anthony Murphy, a managing director at Miami-based Starwood. “It presents a rare opportunity to acquire a large portfolio of mature communities with major infrastructure substantially completed and active lot sales to over 30 homebuilders.”

Nine of the 11 projects were developed through a joint-venture between Trez and Chicago-based Hines. All communities are in advanced stages of development.

Pictured: Wildflower Ranch project in the Dallas area.

Rendering: Handout

Terms of the transaction were not disclosed.