O
ld Prosper Partners has made a significant acquisition in Collin County, purchasing a nearly 2,500-acre site north of McKinney for future residential development. The investment firm acquired one of the largest undeveloped tracts in the county from BFJ Land LLC, with plans to build thousands of apartments and homes. This deal marks Old Prosper Partners' largest transaction of the year.

    The property, known as The Colmena Ranch, will be bisected by the Collin County Outer Loop, positioning it for strategic development. However, before construction can begin, the firm must secure necessary permits and zoning, a process that could take two to three years.

    This acquisition is part of Old Prosper Partners' expansion across North Texas, which has seen them acquire over 6,000 acres in Collin and Denton counties since 2021. The region is experiencing rapid growth, with Collin County's population expected to double to 2.4 million by 2060. Celina, a town within the county, has seen significant growth, with its population surging by 97 percent since 2020.

    Old Prosper Partners' plans for The Colmena Ranch are part of their broader strategy to capitalize on this growth and establish themselves as a major player in North Texas real estate development.