Momentum builds on Panther Island with ‘legacy transaction.’ More than 25 acres sold
An Austin-based commercial real estate company is now the single largest capital investor on Fort Worth’s Panther Island.
Seco Ventures purchased nine parcels of land in an area known as Upstream at Panther Island. With several land parcels adjacent to a planned canal or waterfront, the properties have significant opportunity for development.
Houston-based Panther Acquisition Partners first put the land up for sale in the spring of 2021. Mark Brock, managing partner of Lionhead Capital, helped market the sale for the real estate investment and development company.
“This transaction allows us to partially exit the investment while maintaining a significant ownership stake alongside our partners,” Brock said in a release. “We have spent the last several years consolidating a hugely strategic land package on Panther Island and believe we have partnered with the right family at the right time.”
Until this point, Panther Acquisition Partners was the largest private landowner. It is unclear how much Seco Ventures spent to acquire the 26 acres of property, but the land was valued at a collective $6.77 million last year, according to county appraisals in March 2022.
Fort Worth-based real estate agency LanCarte Commercial represented the property seller. Agency founder Sarah LanCarte said the sale continues momentum that’s been growing on Panther Island for 18 months.
“We could not be more excited for our clients and share our enthusiasm for what the new owners are capable of,” LanCarte said in a release. “Few opportunities like this exist in major cities across the country. We could not be more enthusiastic about the future of Panther Island and the lasting impact it will have on the city of Fort Worth.”
Family-run Seco Ventures first opened in 2010. The company has led the development of several projects in Austin with a focus on office, retail, apartment and industrial development.
This story was originally published July 17, 2023 at 1:29 PM.
