Site sold in Frisco’s $1 billion Gate development – The Dallas Morning News

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A McKinney investor has purchased land in Frisco’s $1 billion Gate development.

Two acres on John Hickman Parkway, west of the Dallas North Tollway sold to a limited liability company. The property that traded is north of the 240-acre Frisco Station mixed-use development.

The Gate property was purchased by a company headed by McKinney businessman Yegneshwar Ragi, county records show. The purchase was financed with $4.5 million in debt.

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The property sold is adjacent to apartment and retail buildings constructed in The Gate.

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Located on the Dallas North Tollway at John Hickman Parkway, the 41-acre Gate project was part of Frisco’s original $5 billion mile of construction. Started in 2014, it is a development of Dubai-based Invest Group Overseas.

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Dallas-based real estate investor Polo Gate Offices LLC recently filed plans to build two office and retail buildings in The Gate on land the firm has owned since 2021.

Magnolia Property Co. is building a $19 million apartment development at The Gate. San Antonio-based developer Embrey Partners and Irving builder JPI also built rental communities there.

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