DALLAS-Henry S. Miller Cos. of Dallas has leveraged itself for a second year of change, taking over Dallas' Stonehill Realty Capital Group and striking an alliance with an out-of-state partner for developments outside Texas.

In a $70-million package, 33 shopping centers or 650,000 sf–maybe more–will roll out in the next three years under a merchant build partnership with Steve Walker of WM&K Development Co. of Hot Springs, AR. The centers are in various development stages in Oklahoma, Mississippi, Arkansas and Louisiana, but clearly represent the firm's first development foray outside Texas. The firm is looking to neighbor Wal-Mart with all projects.

On the Dallas front, Henry S. Miller Cos. has merged Stonehill with its capital markets division, with owner James C. Brownlow becoming head of a newly formed Real Estate investment Banking Group. The entity will operate in concert with the Henry S. Miller Capital Markets division, headed by managing director Mark Baldwin. Other changes put J. Stephen Harris in as president of Henry S. Miller Investments Co., a post vacated by Vance C. Miller who remains at the top as chairman and CEO. Harris was executive vice president and CFO. Stepping in as CFO is Robert DuBois, formerly vice president, secretary and treasurer.