3-O Partners Plans $4B In Real Estate Across Texas And Beyond

A Strategic Shake-Up

A new player is entering the national real estate scene, reports Bisnow. Dallas-based Pacific Elm Properties and the joint venture Ignite-Rebees are joining forces. Together, they are creating 3-O Real Estate Partners, a spinoff development and management firm. The venture is backed by a $4B development pipeline spanning six major US cities. Furthermore, it will focus on mixed-use and retail-led projects aimed at creating vibrant, community-centered destinations.

Who’s Leading The Charge

Jonas Woods, who founded Pacific Elm in 2021, will now lead 3-O as its CEO. His departure from Pacific Elm makes room for the firm’s Chief Investment Officer, Billy Prewitt, to step into the top role. Woods will be joined at 3-O by the founders of Ignite-Rebees: Tristan Simon, Mark Masinter, and Tom Paterson.

In a press release, Woods emphasized that 3-O will deliver “enduring real estate projects that unite place, culture, and hospitality.” This statement further signals a clear focus on placemaking and experiential retail environments.

What’s In The Pipeline

The specific assets being contributed by Pacific Elm and Ignite-Rebees have not been disclosed. However, the new firm is expected to manage 2M SF of property initially. It also has plans to develop projects in Dallas, Austin, Houston, San Antonio, Nashville, and Los Angeles.

Pacific Elm brings significant scale to the table, with a current portfolio that includes:

• Santander Tower (50 stories)
  
• One Dallas Center (30-story mixed-use tower)
  
• 2100 Ross (23-story office building in the Arts District)
  

Additionally, Pacific Elm is pursuing major developments in Dallas and Raleigh, including a 30-story Bank of America regional HQ in Dallas and adaptive reuse projects like the Peridot Residences.

A Track Record Of Redevelopment

Ignite-Rebees brings a complementary portfolio focused on urban infill and creative redevelopment. Specifically, its projects include:

• Henderson Avenue in Dallas, a mixed-use district with Acadia Realty Trust
  
• A 37-acre redevelopment of a strip mall in Austin
  
• Uptown ATX, a 66-acre transit-oriented community in partnership with Brandywine Realty Trust
  

Although some project pages on Ignite-Rebees’ site are inactive, the firm has been active in shaping new urban districts, particularly in Texas.

Why It Matters

The launch of 3-O Real Estate Partners reflects a broader trend of real estate firms consolidating creative and capital-intensive development platforms to compete in high-growth urban markets. With $4B in planned development, 3-O is preparing for significant growth. A seasoned team with expertise in adaptive reuse, mixed-use, and hospitality-focused real estate leads the firm. Together, they aim to shape destination developments across the Sun Belt and West Coast.

As cities increasingly prioritize walkable, mixed-use environments, 3-O, in response, aims to meet this growing demand. The firm is actively developing culturally resonant, placemaking-driven projects that seamlessly blend office, retail, and residential space at scale.

What’s Next

Keep an eye on 3-O Real Estate Partners, as the firm is likely to announce project specifics in Dallas and Austin first. These are two key markets where both parent companies already have well-established development pipelines. Moreover, the firm’s hospitality-forward branding suggests that future developments could include boutique hotels, culinary hubs, and lifestyle-oriented urban districts.