Three Texas-based real estate firms are partnering to build nine multifamily communities in Texas, a $1B portfolio aiming for a total of 3,300 units.
JPI and WayMaker, both based in Irving, TX, and Lubbock-based Madera Residential announced the joint venture this week. The partners specified five projects nearing completion in North Texas encompassing a total of 1,750 Class A units in communities.
The joint venture also said in a release that it expects to start construction on four additional multifamily projects in Texas, totally another 1,250 units, by the end of 2022.
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