Sprawling Ranch West of Fort Worth Sells to Dallas Development Firm

A more than 2,000-acre ranch west of Fort Worth has sold to a Dallas development company.The Bear Creek Ranch in Aledo is just 15 minutes from downtown Fort Worth via Interstate 20.The property is near the 7,200-acre Walsh Ranch community development.Bear Creek Ranch includes stretches of prairie, limestone outcroppings along creeks and eight stock tanks. The property has a 3,882 square-foot pavilion building that has a 2-bedroom apartment."The ranch has 4,200 feet of beautiful Bear Creek as well as springs and seasonal streams and the prairie grasses were truly pristine," said Cynthia Inman with Ranch Connection LLC who brokered the sale.Dallas's JMJ Development paid almost $35 million for the property, which is in the Aledo school district.The Bear Creek Ranch was sold by Dixon Water Foundation, a philanthropic land management organization founded by the late Dallas businessman Roger Dixon.Dixon Water Foundation owns additional ranch properties in North and West Texas.The sale of this ranch allowed the foundation to purchase adjacent ranches next to their other ranches thus increasing their holdings of land in their stewardship," Inman said.New owner JMJ Development is a partner in a proposed high-rise condominium and hotel project on Dallas' Turtle Creek.And JMJ Development is an investor in a Frisco shopping center and a planned Dallas Design District hotel and residential building. The company has apartment developments in Forney and Fort Worth.The company also has resort projects in Mexico.  Continue reading...

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