Two Brothers From Cyprus Started Out Flipping North Texas Houses. Now They Own a Homebuilding Giant

The $1 billion Mercer Crossing community under construction northwest of Dallas is one of the largest projects being built in the town of Farmers Branch.The residential community near LBJ Freeway is also the biggest deal yet by fast-growing local builder Megatel Homes — founded by two brothers from Cyprus who started out buying foreclosure properties with money borrowed from their father."There are 1,000 home sites under development right now in Mercer Crossing, and Megatel controls 700 of those lots," co-founder Zach Ipour said. "We just opened the first model home here in January of this year."And we are selling 15 to 20 homes a month."The huge Mercer Crossing development is helping to raise the profile of Megatel Homes — one of Texas' fastest growing builders with projects in all the major markets.In an unconventional move, Megatel brought in President Donald Trump's newest legal adviser and former New York mayor, Rudy Giuliani, as the guest of honor for a May 8 grand-opening party for the Mercer Crossing development.  Continue reading...

Read More

Copyright The Dallas Morning News
Contact Us