Hillwood, Dot-com Sign Listing Pact for 4,840 Dallas-Ft. Worth Acres

DALLAS-In a test of Internet sales methods, Hillwood has signed with Addison-based Web-Real-Estate.com to list 4,840 acres of non-strategic assets on its Web site.

“The price is right,” Steven Howard of Hillwood Investments told GlobeSt.com of this week’s deal. Web-Real-Estate.com had approached Hillwood with the deal. Howard says there are no plans “at the moment” to list other Hillwood holdings outside the Dallas-Ft. Worth metroplex that have been deemed non-strategic assets. All of the properties already are posted on Hillwood’s Web site. He did say other DFW holdings might be added to the listing.

Hillwood has been land banking the acquisitions for investment purposes from the early 1980s to 1991, Howard says, adding some had been picked up via auctions. “We strategically decided these are assets we’re not likely to develop as Hillwood,” he says.