Anthony Properties Announce Dallas Land Acquisition Expected To Boost Regions Economics

Online, June 19, 2011 (Newswire.com) - Anthony Properties, a Dallas land developer, announced today the acquisition of an 800-acre tract of prime multi-purpose land located between Highway 80 and Interstate 20, west of Brushy Creek, thirty miles east of downtown Dallas. The property was purchased from Wachovia Bank. Frank Nuchereno, Director of Real Estate at Anthony Properties, facilitated the transaction.

This purchase represents the final land component of Anthony Properties' master-planned community of Las Lomas. In 2004, the Company purchased over 5,500 acres situated between the cities of Forney and Terrell, one of the fastest growing new home markets in North Texas. This strategically-located parcel, bordered by Interstate 80 on the north and bisected by Interstate 20, is ideally suited for residential communities, retails centers and office parks. Regional retail and industrial tracts border the property to the north and east.

"We believe this Dallas land acquisition further enhances Las Lomas as the premier mixed-use development in the east Dallas corridor," explains Mr. Nuchereno. "With over 1.5 million square feet of retail, 325 acres of rail-served industrial land and over 10,000 homes and apartments, this will be a high-growth development for years to come. We especially appreciate the great partnership we have enjoyed with the City of Terrell. Their cooperation and incentives regarding this Dallas land for sale have been instrumental to our success in attracting retail, medical and single family developments."

Torry Edwards, Terrell City Manager adds, "Innovative municipal partnerships along with comprehensive land use planning in a manner that creates energy and economic excitement, have been recognized by Yale University and a national urban planning document, Public Works Management & Policy Journal for sustainable city planning."