Apr 14, 2022
Ari Rastegar, a private equity executive bullish on Texas real estate, has invited a group of real estate editors to dinner in Austin, his hometown. He tells us to get ready—he will be ordering one of everything on the menu. Oh, tequila shots, too. At 37, he is one of the youngest investors in commercial projects across the state, and has invested in at least 30 U.S. cities and one foreign country.
Ari Rastegar’s first development project in Dallas is a particularly ambitious one: 1899 McKinney, a 0.45 acre Uptown/Victory parcel near Victory Park in a prime location just north of downtown with physical challenges—it slopes, it's triangular—that have turned off previous developers. His acquisition is surrounded by some of the priciest dirt and buildings in Dallas. This is where Rastegar Property Company plans to build the city’s next luxury, up-scale multifamily tower, including something this city sees infrequently: stellar, jaw-dropping architecture.
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