Megatel Homes, a Texas-based homebuilder that funds its developments through private placements offered by its capital markets division Megatel Capital Investment (MCI), has presold 46 townhomes in Mercer Crossing, a mixed-use development in the Dallas suburb of Farmers Branch, Texas.
According to the company, the 46 townhomes were presold prior to the property lots being finished for development and construction of model homes. In total, the company has sold approximately 100 homes, including townhomes and single-family homes, in the Mercer Crossing subdivision.
“Controlling approximately 700 of the 1,000 lots in the community, Mercer Crossing is Megatel Homes’ largest community to date and one of the largest residential projects in the Dallas-Fort Worth area. We are already enjoying significant sales volume among both the single-family residences and the townhomes in this community,” said Zach Ipour, co-founder of Megatel Homes.
The 370-acre Mercer Crossing community includes 174 acres of residential single-family homes and an additional 93 acres for retail and office space. The community is comprised of 3-bedroom and 4-bedroom townhomes and single-family homes ranging from 2,274 square feet to 3,389 square feet.
The Mercer Crossing grand opening celebration, which featured Kevin O’Leary of ABC’s Shark Tank and former New York City Mayor Rudy Giuliani, attracted nearly 1,000 guests in May 2018. Farmer’s Branch Mayor Robert Dye joined Megatel founders Zach and Aaron Ipour to cut the ceremonial ribbon signaling the opening of Mercer Crossing.
Since 2006, Megatel Homes has completed more than 100 developments comprised of several thousand homes. The company currently has more than 100 communities and is spreading throughout the Dallas-Fort Worth metroplex.