Welcome to the Company News & Press Mentions page, featuring notable real estate acquisitions, business milestones, and media coverage involving Dearonne Bethea and his business ventures. From multifamily property investments to navigating the challenges of opening a business during a global pandemic, these stories highlight the experiences, partnerships, and decisions behind building and growing businesses.
This page brings together key developments across real estate investment and entrepreneurship, offering readers a closer look at the transactions and experiences that have shaped Dearonne’s business journey.
Real Estate Acquisitions
Tri-City Equity Group Acquires 64-Unit Multifamily Property in Mansfield, Texas
February 2024 | Mansfield, Texas | Multifamily Acquisition
Tri-City Equity Group acquired Kings Landing, a 64-unit multifamily property in Mansfield, Texas. The purchase price was not disclosed, but the acquisition represented an opportunity to continue improving an established rental property in the Dallas–Fort Worth metropolitan area.
At the time of the reported transaction, Kings Landing was fully occupied. The property was developed in two phases, with 48 units completed in 1975 and an additional 16 units completed in 1985. Its one- and two-bedroom apartments have an average unit size of approximately 765 square feet. Each unit features an individual heating, ventilation, and air-conditioning system, and some apartments had already received upgrades.
Located approximately one mile from downtown Mansfield, the property offers access to major transportation routes, including State Highway 360 and U.S. Highway 287. Its location within the Dallas–Fort Worth region places it near employment centres and other amenities that can support rental demand.
Following the acquisition, Tri-City Equity Group planned to continue a value-add improvement programme focused on enhancing the property’s condition and resident experience. Planned interior renovations included upgraded countertops, appliances, flooring, fresh paint, ceiling fans, and smart-home technology packages. Exterior improvements included balcony repairs, landscaping, restriped parking areas, and the addition of covered parking spaces.
The strategy reflects an important consideration in multifamily investing: an acquisition is only the beginning. Investors must also evaluate how property improvements, operating decisions, and tenant satisfaction can contribute to the long-term performance of an asset.
Doug Banerjee and Sterling Warren of Greysteel represented the seller, 1300 Dallas LLC, and secured Tri-City Equity Group as the buyer.
Read the original coverage: Greysteel’s Kings Landing transaction announcement | REBusinessOnline’s acquisition report
Company Milestones
Relationships Are Key to Capital: Opening an Anytime Fitness During a Pandemic
Business Milestone | Honolulu, Hawaii | COVID-19 Pandemic
Opening a new business requires more than a promising idea and a sound financial plan. It also demands effective partnerships, access to capital, and the ability to navigate unexpected challenges. For Dearonne Bethea and his business partners, Julian Simmons and Jerome Easter, these factors became particularly important when they opened an Anytime Fitness location in Honolulu during the COVID-19 pandemic.
The project encountered significant obstacles as pandemic-related restrictions slowed the permitting process and disrupted lending conditions. Construction delays placed the financing at risk, and without an established relationship with a lender, the partners came close to losing their construction funding before the gym could open.
The experience demonstrated how important professional relationships can become when circumstances change unexpectedly. Financial projections and business plans remain essential, but a trusted relationship with a lender can also influence how challenges are addressed when a project encounters delays or circumstances that fall outside normal expectations.
For entrepreneurs and investors, the lesson extends beyond the fitness industry. Building relationships with lenders, business partners, advisers, and other professionals before an urgent need arises can help create a stronger foundation for future opportunities. Trust develops over time through communication, reliability, and a clear understanding of shared expectations.
The experience also highlights the realities of entrepreneurship. Business plans rarely unfold without obstacles, and successful execution often depends on adapting to changing conditions while maintaining relationships with the people who help move a project forward.
Read the original press coverage: Pacific Business News: “Relationships Are Key to Capital”
Media Inquiries and Additional Information
For media inquiries, interview requests, or additional information about the acquisitions and business milestones featured on this page, please visit the Dearonne Bethea contact page.
As new transactions, company developments, and media mentions emerge, this page can serve as a continuing record of milestones across Dearonne Bethea’s real estate investment and entrepreneurial ventures.
