Lewisville’s 90-acre resort-style residential community, Hebron 121, bought by East Coast investor |

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Hebron 121 Station, one of Dallas-Fort Worth’s largest privately owned luxury multi-family developments, located in Lewisville, has been sold, seller Huffines Communities announced last month.

EastSky, a multifamily investor with properties primarily on the East Coast, purchased the 90-acre “resort style” complex from brothers Donald and Phillip Huffines, co-owners of Huffines Communities, for an undisclosed amount. The development includes 1,429 units and more than 2,000 residents, and is adjacent to IH-35E, State Highway 121, the President George Bush Turnpike and the Denton County Transit Authority Rail Station.

The Huffines, Lewisville natives, began the massive project when they purchased the land in 2007, building the development out over 10-plus years and five phases. They had been involved in single-family, detached housing for 25 years before planning Hebron, and they relished the challenge the massive community would bring, Phillip Huffines said.

The first phase of 250 units opened in 2011, but the property now includes both apartments and townhomes with upscale amenities including four pools, sand beaches, fountains, entertainment lounges, an on-site restaurant and convenience store and a swim-up bar. The complex even features palm trees and brightly colored buildings reminiscent of the fun, “vacation at home” atmosphere Hebron strives for.

The last phase finished about two years ago and, with some of the leasing challenges brought on by the COVID-19 pandemic behind them, the Huffines decided to put it on the market.

“We just decided it was time,” Phillip said.

More than just providing residents luxury amenities, Hebron offers a unique culture, with a 10,000-square-foot clubhouse and leasing center for gatherings, an on-site fitness center and a staff events coordinator. The brothers also worked closely with the City of Lewisville, which owns 150 acres adjacent to Hebron that is dedicated for hike-and-bike trails, lakes and green space.

“One thing we focus on with Hebron is the social fabric — making certain our residents are engaged in meeting other residents and coming to events,” Phillip said. “Most apartment complexes aren’t large enough to support that kind of expense. We can have these events, have individuals responsible for coordinating these events and encouraging residents to attend and have this large amenity program because it is a large community.

“Individuals really like that concept.”

That singularity is part of what attracted EastSky. Principals Chaim Kiffel and Yossi Cohn first toured the property in January 2020 and again late last year when Huffines Communities and EastSky were ready to begin negotiating a deal, which was completed in April with the help of commercial real estate services firm CBRE.

EastSky, which has been in business for 11 years, has owned properties in the Midwest and Chicago area outside their holdings in the East, but Hebron is its first acquisition in Texas, and its largest so far.

“We have been looking at Texas for at least a couple of years [because] we’re very interested in building a portfolio in the Southern states, Texas being probably our primary target,” Kiffel said. “It took us a long time to get a deal that worked for us.”

Kiffel and Cohn prefer unique concepts, with one of their proudest acquisitions being a British-mansion-style apartment complex in Philadelphia, Kiffel said. With Dallas-Fort Worth “standing out” in terms of economic and population growth, Hebron was a chance for EastSky to establish a footprint in the area.

“It’s a cosmopolitan city and it’s not as linked to the oil industry as you might see in Houston,” Kiffel said. “It’s got a lot of stability and diversity in every respect.”

EastSky is not the only investment group with its eye on the region. CBRE’s annual “Investors Intentions Survey” ranked Dallas second among preferred U.S. markets in 2021, with Austin taking the top spot. Seventy percent of investors surveyed by CBRE said they plan to acquire more property this year.

EastSky plans to update some of the units built in the first phase of the Hebron development. Depending on what they learn by managing the community through their joint venture with Atlanta-based management group RAM Partners, they may complete some other light upgrades in the future but overall, they plan to maintain the style and amenities that set Hebron apart.

The investment group is looking at other properties in the area, including a deal under contract in Fort Worth expected to close in July. The Huffines also have their eyes on future projects — including Lewisville townhome community Heritage Trails which is about 50% complete, and Heritage Tower, a multifamily development going up next door — but Hebron will remain close to their hearts.

“It was a difficult decision to sell, but with the help of CBRE, we were able to select a buyer who shares our vision and passion for the community,” Phillip said. “We will forever be connected to this beautiful property and the City of Lewisville.”



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