The VCM Real Estate Fund, whose president is Vaughn Miller of Highland Park, has acquired a $28 million real-estate portfolio that includes 127 acres of land for future development and a shopping center in DeSoto.
Miller said the company plans to develop 100 acres in Oak Point, near Little Elm, into a residential community, including a 15-acre country club.
Construction already has started on a $22 million development near the Prestonwood Polo Club, with plans for 22 one-acre lots overlooking the polo club operated by Miller’s family.
“My father, Vance C. Miller, was a very successful country-club developer and operator, and I plan to continue his legacy,” said Miller, whose grandfather was local real-estate icon Henry S. Miller.
The firm also bought the DeSoto Corners Shopping Center, a strip center anchored by Starbucks and T-Mobile stores. More significantly, it’s adjacent to the proposed first Dallas-area location for Joe V’s Smart Shop, a grocery-store offshoot of HEB.