la Frontera In the News

Globe Street

January 21, 2003

La Frontera Part of Firm's Expansion Leverage

by Tim Green

SAN MARCOS, TX-Grande Communications Inc. has expanded its operations with the acquisition of commercial and residential telecommunications customers in Austin, San Antonio, Houston and Dallas from TXU Communications, based in Lufkin, TX.

Included in the acquisition are the commercial and multifamily accounts of the 328-acre La Frontera mixed-use development in Round Rock. La Frontera has 860,000 sf of retail space, 400,000 sf of office and about 900 apartment units completed. Grande also holds contracts for 30 upscale apartment communities in Houston and 15,000 commercial and residential lines in Dallas-Fort Worth, Houston, San Antonio and Austin.

The acquisition of the TXU properties gives Grande its first retail operations outside central Texas. It had wholesale operations in Dallas, Fort Worth and Houston.

The San Marcos-based Grande, which is privately held, recently gathered $15.2 million in its fifth round of venture funding; it has raised a total of nearly $500 million. The company is using the money to build its high-speed network between Austin and San Antonio. The firm provides high-speed Internet service and long-distance and local telephone service.