Hines Acquires 1,476-Acre Brown Ranch in Fort Worth, Planning 3,800 Homes

Hines announced Oct. 1 that it has acquired Brown Ranch, a 1,476-acre residential land development in Fort Worth, Texas. At full buildout, the community is expected to include approximately 3,800 homes, along with about 70 acres of commercial development. Financing for the acquisition and development was provided by Harvest Capital and TPG Credit, and the transaction was facilitated by Land Advisors Organization.

The acquisition expands the national land development platform of Hines, a global real estate investment manager, and advances what the firm describes as its high-conviction living strategy.

Brown Ranch Acquisition Details

Brown Ranch is in Fort Worth and within the Aledo Independent School District. The site lies in the city's western extraterritorial jurisdiction, north of Old Weatherford Road, south of White Settlement Road and northeast of Walsh Ranch, and spans Tarrant and Parker counties. Fort Worth officials approved a development agreement for the Brown Ranch area in June 2026.

The property is planned as a master-planned community offering a range of single-family housing, including townhomes, across an array of lot sizes and price points. The plan includes approximately 70 acres of commercial development intended to support future services and amenities. The community plan also calls for a minimum of three amenity centers, 10 neighborhood parks and an interconnected trail system, while preserving existing natural features such as mature trees, rolling terrain and a large creek corridor.

The project works out to roughly 2.6 homes per gross acre at full buildout, before accounting for roads, parks, commercial land, drainage, infrastructure and preserved natural areas. The planned commercial acreage represents about 4.7% of the total site.

Homebuilders involved in the project include Beazer Homes, DRB Homes, HistoryMaker Homes, Meritage Homes, Pulte Homes and Risewell Homes.

Hines Executive Comments on Dallas-Fort Worth Strategy

"Dallas-Fort Worth continues to benefit from strong population and employment growth, infrastructure investment and sustained housing demand, making it an attractive market for Hines' high conviction living strategy," said Rob Witte, Senior Managing Director and Head of Residential Land Development, Americas, at Hines. "Brown Ranch gives us the opportunity to help deliver new housing at scale in one of the country's fastest-growing regions, working alongside an experienced group of homebuilders. It is an important addition to Hines' national land development platform."

Capital Partners, Lenders and Brokerage

Trez Capital is serving as a capital partner on the investment. Harvest Capital and TPG Credit provided financing for the acquisition and development. Landry Burdine, Austin Reilly and Josh Watson of the Dallas-Fort Worth office of Land Advisors Organization facilitated the transaction.

Brown Ranch follows Hines' and Trez Capital's involvement in the 2025 sale of 11 Texas master-planned communities to a Starwood Capital joint venture. That transaction was reported at approximately $1.15 billion by one industry source and approximately $800 million by another, which may reflect different scopes or deal components. Hines reported approximately $91.7 billion of assets under management as of Dec. 31, 2025, across its global organization and affiliated registered investment adviser, with 4,600 employees in 30 countries.

Fort Worth Population Growth and Housing Demand

The acquisition comes as the U.S. faces a housing supply gap of approximately 4.5 million homes. In Dallas-Fort Worth, population growth has been expanding housing demand farther from traditional urban centers. The metro area reached approximately 8.5 million residents in 2025, an 11% increase since 2020, according to the U.S. Census Bureau. Parker County, part of the westward growth corridor surrounding Brown Ranch, grew approximately 25% over the same period, reaching nearly 185,000 residents. Fort Worth has surpassed one million residents and grew nearly 12% between 2020 and 2025.

One market forecast estimates Dallas-Fort Worth could add more than 25,000 households in 2026, while long-term job growth could require roughly 400,000 additional housing units over the next decade.

Market Context for Western Dallas-Fort Worth Land

The regional housing market is in a period of adjustment. Home values in Dallas-Fort Worth declined approximately 5% in 2025, with the greatest pressure in areas that had seen the strongest prior appreciation. Western submarkets have remained comparatively attractive because land costs have risen more slowly and available housing supply is generally better than in some northeastern portions of the metro area.

The region also has substantial lot inventory. Roughly 110,000 developed lots are in the Dallas-Fort Worth pipeline, and 2026 housing starts are expected to stabilize around 40,000 to 45,000 units. Brown Ranch will require infrastructure, phasing, permitting and builder execution before its planned homes reach the market.

Multifamily construction has also shaped the residential landscape. More than 7,000 apartment units were completed in Dallas-Fort Worth in the opening period of 2026, with more than 43,000 units under construction at quarter-end and approximately 22,000 additional units forecast to deliver during the year. That supply has put near-term pressure on occupancy and rent growth.

Outlook for Brown Ranch

Brown Ranch is undeveloped land rather than an income-producing property, so conventional occupancy and capitalization-rate metrics do not apply at acquisition. The project's performance will depend on factors including infrastructure costs, development timing, finished-lot pricing, builder absorption, interest rates and the pace of population growth in west Fort Worth. The six announced homebuilders provide a potential channel for lot and home-site takedowns as the community is built out in phases.

Sources

Land Advisors Organization: https://landadvisors.com/news/hines-acquires-1476-acre-brown-ranch-in-fort-worth-texas-with-plans-for-3800-homes/