Concourse, Maquina Merge to Pursue big Texas Developments

Two Houston-based commercial real estate firms have merged into one company that aims to develop large projects across Texas.

Concourse Development and the U.S. arm of Mexico-based Maquina Holdings combined to form a company called Ember, the Houston Business Journal reported.

Concourse co-founders Harry Masterson and Jordan Mack, and Maquina U.S. President and CEO Vincente Rangel will lead Ember.

“Vicente’s extensive background in building out massive industrial projects in Mexico combined with his expertise in financing residential towers presented an opportunity to harness our collective talents under one roof,” Masterson said.

Maquila is known for building single-family, middle-income houses and infrastructure developments across Mexico. Rangel started the U.S. division in 2021, and he has been involved in several high-rise and mid-rise residential projects in the Houston area since then.

Concourse is known for developing master-planned communities in Greater Houston, and Rangel invested as an equity partner in several of its projects, the outlet reported.

“Once we recognized that we had the resolve to push through difficult times and eventually prevail despite major obstacles we’ve encountered along the way, we knew we had the right recipe for the creation of Ember,” Rangel said.

Here’s what else is shaking in Texas real estate:

Lincoln Property Company has moved its global headquarters into a building it developed at 8111 Douglas, in Preston Center. The building was completed this year. It is part of a complex that includes two 13-story buildings. One has 225,000 square feet of office space, and the other has 128 apartments averaging 1,400 square feet. Clay Duvall and David Binswanger were appointed co-CEOs in February, as part of Lincoln’s growth and succession plan, which has benefited from an investment from Stone Point Capital.

“Lincoln has deep roots in Dallas, with our origins beginning here nearly 60 years ago,” Duvall said. “The city is quickly becoming the epicenter of the U.S. economy due to its strong business environment and cost of living, and we’re proud to continue to build on Lincoln’s deep legacy in Dallas for years to come.”

Green Brick Partners, the publicly traded parent company of several North Texas homebuilders, moved its headquarters to 5501 Headquarters Drive in Plano, the Dallas Morning News reported. The firm operates in Texas and Florida and owns CB Jeni Homes, Normandy Homes, Southgate Homes and Trophy Signature Homes, and it has interests in Green Brick Title and BHome Mortgage. It moved about 4 miles, from 2805 Dallas Parkway. The size of the lease wasn’t reported, but Green Brick’s new office is “more spacious,” the outlet reported.

Austin luxury residential real estate agents Kathleen Bucher and Eric Copper have merged their firms and formed a partnership with Zane Collins to form a new brand, Bucher Copper Collins Real Estate Group powered by PLACE and affiliated with Austin Portfolio Real Estate. Bucher and Copper are industry veterans, who close about $100 million in transactions a year, according to a news release from PLACE. Collins is described in the release as a “rising star” of Austin luxury real estate.

Dara Allen of the Dara Luxury Group has moved to @Properties Christie’s International Real Estate. Her team has achieved over $300 million in sales since 2019, according to a news release. @Properties Christie’s International Real Estate recently launched its Austin affiliate. Allen, who previously worked in the most-expensive neighborhoods in Los Angeles, joins the firm as executive vice president of strategic growth and founding broker associate.

Keyan Zandy, the CEO of Richardson-based construction company Skiles Group was given the Lean Construction Institute’s Pioneer Award recently. The award recognizes leaders who have embraced “lean tools and techniques,” which reduce wastefulness by increasing communication between architects, engineers, general contractors and trade contractors.