281-acre Platinum Ranch north of Dallas sells to investor group
The Platinum Ranch is southwest of the town of Gunter.(Steve Brown )
Another big development tract north of Dallas has changed hands.
The 281-acre Platinum Ranch property is southwest of the Grayson County town of Gunter and along the future route of the Dallas North Tollway.
Property broker Rex Glendenning said it’s “land zoned for a master-planned mixed-use project located approximately one mile north of the Legacy Hills Development currently under construction by Centurion American.”
“This property is also uniquely located just west of the recently announced Centurion American 500-acre Taylor Ranch project,” said Glendenning with Rex Real Estate, who handled the sale.
The area just north of Celina has seen a series of recent land trades as single-family community development has ramped up in the area more than 40 miles north of downtown Dallas.
In August, Legacy Hills developer Centurion American purchased Taylor Ranch, a 500-acre property west of Preston Road near the town of Gunter.
The just-sold Platinum Ranch property is the latest property play along the tollway extension route.
“The Grayson County tollway extension is scheduled to open in front of this property prior to year-end,” Glendenning said. “Although we have seen some hesitancy in the single-family sector of the market recently, we are seeing a flight to quality and well-located land development positions.”
The Platinum Ranch buyer partnership includes investors Sudheer Babu Bagham, Ravi Kollipara, Srinivas Chad Gorrepati, Omkishan Maredu and Raj Veeramachaneni.
Glendenning and Rex Real Estate’s Caleb Lavey handled the sale.
The just-sold Platinum Ranch property is southwest of Gunter. (Rex Real Estate)
- Steve Brown, Real Estate Editor, Dallas Morning News