Investors Cohen Asset Management, Rusty Holzer, Scottie Smith Continue to Revitalize South Dallas

With the real estate market continually booming, it’s become quite common for less popular neighborhoods across the United States to pique the interest of developers and investors. Firms of all sizes have joined the trend, eagerly seeking out spaces with potential. Some aim to obtain abandoned properties or empty lots with the goal of performing makeovers, while others overtake buildings bringing hope for revitalization. In recent years, the southern region of Dallas, Texas has seen increased interest resulting in some large deals.
Maintaining its attention to long-term investments, Cohen Asset Management has acquired a 920,000-square-foot logistics facility in southern Dallas. The California-based real estate firm focuses mainly on the logistics and industrial sector. This includes manufacturing facilities, distribution centers, and fulfillment warehouses. Since its founding in 1979, the firm has expanded its portfolio across 25 states.
In a slightly different approach, Shekinah Legacy Holdings has recently purchased a physician’s office and vacant lot in South Dallas. The revitalization plans include turning the former medical space into a coffee shop and developing a new building next door. The two-story structure will house a restaurant on the first floor, and the firm’s offices and training center on the second floor. Scottie Smith II, the company’s CEO, first discovered this section of Dallas in 2016 when he made a wrong turn while driving. He has since been actively involved in the revitalization of the area. His first investment there included purchasing empty lots and building homes on them. He then offered his clients first dibs on purchasing the properties.
Going back a few more years, in 2018, Worth Capital Holdings partnered with Covenant Development to initiate a new project in the Cedar Hill community of South Dallas. The plan included a $42.5 million construction and refinancing loan to build a property which now includes 299 market-rate units across nine garden-style buildings. Rusty Holzer, Principal and Chairman of Worth Capital Holdings, expressed his gratitude to Mason Joseph which facilitated the loan and to the United States Department of Housing and Urban Development for its partnership. In his statement, Rusty Holzer said: “We wish to give our sincere thanks to the United States Department of Housing and Urban Development for being a valued financial partner and for enabling this new construction that the citizens of Dallas will enjoy for years to come.”
As the years progress, investors and developers show continued interest in South Dallas. Whether acquiring large office complexes, revamping deteriorating homes, or developing new apartments, the neighborhood is constantly changing.