A change of ownership is the works for four tracts of property prime for development in north Oak Cliff.
Cienda Partners, a Dallas-based real estate investment company, has a contract to purchase almost 20 acres of land along West Davis, Stevens Forest Drive and Kings Highway. The properties were formerly part of INCAP Fund’s portfolio but claimed by lender Amegy Bank in foreclosure.
“We will either turn around and resell them or get involved in a [development] venture,” said Barry Hancock, a Cienda principal. “We think these are great tracts at a great basis” price. He said he hopes to complete the sale within 30 days.
The four tracts are located at:
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