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One of Texas’ priciest homes trades hands

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One of Texas’ priciest homes trades hands


A mystery trust bought one of the most expensive homes in Texas this week — just months after buying another multimillion dollar property nearby.

The Lost River Trust bought the mansion at 4815 Saint Johns Drive in Highland Park from Dallas entrepreneurs Melbourne and Jamie O’Banion on May 5, according to county records. The final sale price is undisclosed, but the sellers had the home listed for $24.9 million at the time.

The six-bedroom, eight-bathroom home spans 11,433 square feet on a 0.6-acre lot, according to the listing. It was built by Mark Molthan and designed by Tom Weber. They listed the home on March 23 for about $2,200 per square foot.

Allie Beth Allman, founder of the eponymous brokerage, represented the sellers. Damon Williamson with The Agency represented the buyer, according to Redfin.

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Just two Dallas homes last year sold with listing prices higher than $25 million, though both sold for well below what they asked. The trust of the late Fortress Investment Group CEO Josh Pack sold his former home at 6601 Hunters Glen Road for $30.5 million after asking $35 million, and manufacturer Guinn Crousen sold his home at 4000 Euclid Avenue for $25.5 million after asking $33 million.

Only six homes in Texas are asking a higher price, according to Zillow. Two effectively tie with the home on Saint Johns Drive: a spec mansion on Strait Lane that’s asking $25 million, and another new construction at 4 Lana Lane in Houston that’s asking $25.5 million.

The Lost River Trust bought another luxury home just six months ago. On Nov. 14, the trust purchased the home at 3709 Euclid Avenue, a four-bedroom, six-bathroom, 5,845-square-foot house that was asking $14 million when it withdrew from the market in September. It’s about half a mile south of the home on Saint Johns Drive.

Melbourne O’Banion is the CEO of Dallas-based tech startup Bestow, which produces software for life insurance companies. His wife Jamie O’Banion is the founder of Dallas-based cosmetics company BeautyBio.

The Crespi Estate at 5619 Walnut Hill Lane, listed by the Cox Family for $64 million, remains the most expensive home on the market in Texas.

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Dallas entrepreneurs Jamie and Melbourne O’Banion list Highland Park mansion for $25M

Allie Beth Allman, Taylor Hamra and the late Sam Hamra with 4700 Lakeside Drive

Estate of late Dallas plastic surgeon Sam Hamra sells historic Highland Park teardown to mystery buyer

Jon Venverloh and Robert Vaughn with 6901 Hunters Glen Road in University Park

Robert Vaughn buys University Park spec mansion that asked $26M





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Dallas, TX

Death penalty off the table for man accused of beheading Dallas motel manager, prosecutors say

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Death penalty off the table for man accused of beheading Dallas motel manager, prosecutors say


Prosecutors will not seek the death penalty against the man accused of beheading a Dallas motel manager last September, authorities said. Yordanis Cobos-Martinez, 37, admitted to using a machete to attack and kill his co-worker at the Downtown Suites on Samuell Boulevard during an argument, according to investigators.



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Dallas, TX

Top 10 Dallas Cowboys of 2026: Rashan Gary is Complete EDGE Dallas Needed

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Top 10 Dallas Cowboys of 2026: Rashan Gary is Complete EDGE Dallas Needed


In need of help on the edge, the Dallas Cowboys tried to make a huge move this offseason. They made multiple attempts to trade for Las Vegas Raiders superstar Maxx Crosby, but were never able to get a deal done.

Once that one was off the table, they decided to send a fourth round pick to the Green Bay Packers in exchange for veteran Rashan Gary. The move was criticized, which is rather confusing when you think about it. Dallas gave up a mid-round pick, and reworked his contract to where it hardly makes any impact on a salary cap. They also filled a position of a great need with a player who might not threaten to lead the league in sacks, but is well-rounded and can help against the run just as much as he does when rushing the passer.

Gary is entering his eighth season in the league and has 271 tackles and 46.5 sacks. He’s coming off another solid campaign, which is why he’s No. 9 on our list of top 10 players on the Cowboys’ roster.

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Rashan Gary 2025 review

Green Bay Packers defensive lineman Rashan Gary against the Arizona Cardinals at State Farm Stadium. | IMAGN IMAGES via Reuters Connect
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Gary’s numbers in 2025 were respectable, but could be misleading. He was on pace to record 18 sacks, as he had 7.5 through the first seven games of the year. He then disappeared for the final nine games, recording no sacks while struggling to generate pressure.

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That led to his season as a whole being considered rather disappointing, which is why the Packers were willing to move on. It’s also why Dallas was able to convince him to take a pay cut after he joined their team. What was most frustrating for Green Bay was the fact that they needed him to step up when Micah Parsons suffered a torn ACL late in the year and Gary was unable to do so.

Rashan Gary 2026 prediction

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Green Bay Packers defensive end Rashan Gary celebrates during the season opener against the Detroit Lions. | USA TODAY Network via Reuters Connect

One thing critics of the move are failing to see is the fact that Dallas doesn’t need Gary to record double-digit sacks. They need him to be the veteran voice for a group of young pass rushers who are trying to find their footing in the league.

Second year player, Donovan Ezeiruaku, and rookie Malachi Lawrence both have the talent to be game-changers off of the edge. What they don’t have, is the experience. That’s where Gary comes in.

As those two continue to develop, Gary will be the stabilizing veteran force who can make plays on early downs, while also being disruptive as a pass rusher. We can’t ignore the struggles that he had in 2025, but perhaps the change of scenery will give him some motivation to turn back the clock. And Dallas didn’t have to give up much to give him that opportunity.

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Former Dallas ISD Superintendent Michael Hinojosa runs for Dallas Mayor

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Former Dallas ISD Superintendent Michael Hinojosa runs for Dallas Mayor


Former Dallas ISD Superintendent Michael Hinojosa announced that he is running for Mayor of Dallas on Monday.

Hinojosa says the city needs experienced leadership to address the budget challenges and pro sports teams leaving Downtown Dallas.

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Addressing Dallas’ budget and pro sports team

Local perspective:

Michael Hinojosa served two stints as superintendent of Dallas ISD, totaling 13 years. He told FOX 4 that he officially filed paperwork to enter the race and plans to formally launch his campaign at a Tuesday morning news conference at Dallas City Hall.

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Hinojosa points to financial track record at Dallas ISD

What they’re saying:

Hinojosa cited his tenure leading Dallas ISD as evidence of his financial management experience, saying the district’s reserves grew from about $32 million when he took over in 2005 to nearly $1 billion in obligated and unobligated fund balances by the time he left.

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“I think that it’s really important for this community to know that we’re at an inflection point and that the city and the community need a strong, proven leader,” Hinojosa said.

He pointed to the city’s budget shortfall, employee furloughs and concerns over major sports franchises potentially leaving downtown as examples of challenges facing Dallas.

He said solving the city’s challenges would require coalition-building and pledged to focus on issues important to residents, taxpayers and businesses.

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“I believe that a vision is a dream with a deadline,” Hinojosa said, adding that if elected he would aim to address the city’s biggest challenges within two terms.

Campaign announcement at Dallas City Hall

What’s next:

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Hinojosa said he will outline his priorities during a 10 a.m. campaign announcement on Tuesday, July 14, at Dallas City Hall.

The Source: Information in this article was provided by an interview conducted by FOX 4’s Shaun Rabb.

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