This week, the Washburne family announced it is consolidating its commercial real estate management platform under a single brand, Gillon Property Group.
The move unites the management of Highland Park Village, a luxury Dallas retail center, as well as dozens of other properties across the country under a single entity that will oversee investment, development and operations.
The newly created company is a subsidiary of Gillon Capital, the single-family office for the Washburne family. Its portfolio includes 81 properties across ten states and more than 14 million square feet.
Gillon Property Group replaces the real estate management and operational functions formerly managed by the A. G. Hill family office.
“Our team is dedicated to elevating the standard of real estate stewardship through thoughtful development, operational excellence, and a deep commitment to place-making,” Heather and Ray Washburne said in a joint statement. “We look forward to continuing to maintain and grow our existing properties and partnerships while actively identifying new opportunities in mixed-use, retail, hospitality, residential, and office.”
Ray Washburne, a Dallas native and Southern Methodist University alumnus, is vice chairman of GPG’s governing board.
He built his reputation in real estate and hospitality. His ventures include ownership of the M Restaurant Group, which owns Dallas staple Mi Cocina, and the redevelopment of Highland Park Village.
Washburne’s previous ventures include leasing, marketing and operations of the Knox Street district, and ownership in the recently announced Knox & McKinney office and retail mixed-use development located at the intersection of the streets bearing the same names.
In 2019, Washburne purchased the Dallas Morning News building at 508 Young St. for $28 million. He has since scrapped plans to turn the property into a modern hotel and entertainment complex, instead selling the property to the city earlier this year for $52 million.
Heather Washburne is a descendant of oil tycoon H.L. Hunt, one of the wealthiest people in the world in his time.
Hill Washburne, president of Gillon Capital and executive chairman of Gillon Property Group, called the launch a “natural evolution” of the family’s real estate legacy, citing the need in today’s market for “high-touch, longer-term operators who drive true value creation.”
Highland Park Village Management Company leader Drew Steffen is being tapped to serve as president and chief executive officer of Gillon Property Group.
“We are excited to build on the investment, development and operational excellence with a team who has best-in-class experience built over decades,” Steffen said in a statement. “Our mission is to continue to curate and grow our portfolio of premier destinations, each with a commitment to people-focused design and uniquely elevated experiences.”