Winston Capital Sells Turnback Ranch Near Austin
- Feb 20, 2008
Turnback Ranch, a 242-acre lakeside site in Lago Vista, Texas, about 15 miles west of Austin, has been sold by Turnback Development L.L.C., a partnership of principals in Winston Capital Corp., to Equilibrium Resorts, an affiliate of the Tharaldson Cos.Equilibrium will manage the property’s development and operations. Financials were not disclosed. Under the new name of Mahogany, A Lake Resort, the property will eventually feature a Mediterranean-style village, a resort hotel, estate-sized lakefront homesites, single-family homesites and townhomes. The property has about 11,000 feet of frontage on the north shore of Lake Travis, a nearly 19,000-acre reservoir. Winston Capital earlier developed a 460-acre project nearby, Waterford on Lake Travis, which includes more than 300 homes and a 71-unit luxury lakefront residential condo that is scheduled for completion next fall.