Former Dallas Cowboys quarterback Troy Aikman has bought a stake in Direct Development, a private commercial retail real estate development and investment company in Dallas.
Aikman will be a principal in all the firm’s future development projects.
“I have had several opportunities over the years to invest in commercial real estate deals and the ability to be a principal with Direct Development offers the best opportunity to learn and be successful in this business,” Aikman said. “Knowing Direct Development’s reputation for integrity in the industry and the quality of the projects they develop are the primary reasons I chose to make an investment in the company.”
Aikman’s first project will be Robertson’s Creek, a Flower Mound development that will be anchored by J.C. Penney (NYSE: JCP) and Belk Department Stores. The project’s investment team includes Mike McCoy, a former minority owner in the Dallas Cowboys. McCoy also is an investor in Direct Development.
Direct Development was formed in 1997 by Syd Hurley and David Watson. The firm has developed or acquired 33 shopping centers representing more than 3 million square feet of commercial retail properties. It has offices in Dallas and Austin.
Read the original article at Dallas Business Journal.