CELINA, TX - The popular Legacy Equestrian Center, a 600+ acre property has been sold to an investor.
The Legacy Equestrian Center plans to continue operations following the recent sale to Hersh Family Investments. The Dallas-based private firm invests in a variety of initiatives including e-sports and gaming, health care and specialty manufacturing.
The investment company was founded as the family investment office of Kenneth A. Hersh, co-founder and former CEO of private equity firm NGP Energy Capital Management. He is also the president and CEO of the George W. Bush Presidential Center at Southern Methodist University.
Hersh Family Investments officials did not respond to requests for additional details.
Legacy Equestrian Center’s Emily Duevel said the facility will continue to operate for the foreseeable future. The center, just east of Preston Road near County Road 134, is in an area that’s seen several recent rural property sales, according to longtime Collin County real estate broker Rex Glendenning.
“There are several major land holders in that market,” Glendenning said.
Huffines Communities owns almost 1,700 acres in that same area. And another investor — Central Frisco Ltd. — has assembled about 1,600 acres for future development.
The undeveloped properties are in the same area where the Celina Independent School District recently purchased a new school site. Infrastructure upgrades will need to be made in that area of Celina before developers can build thousands of new homes.
Celina has seen some of North Texas’ largest recent land trades. Most of the purchases have been on the city’s west side, near the route of the Dallas North Tollway extension.
Steve Brown | Real Estate Editor | DMN
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