REBusinessOnline

Pearlmark, Sinatra Acquire 159-Unit Workforce Housing Property in Metro Dallas

LANCASTER, TEXAS — A partnership between Chicago-based investment firm Pearlmark and Buffalo, N.Y.-based Sinatra & Co. Real Estate has acquired Pleasant Creek, a 159-unit workforce housing community in Lancaster, a southern suburb of Dallas. The property was 98 percent occupied at the time of sale. Marcus & Millichap represented the seller, NAPA Ventures, in the transaction. Greystone provided acquisition financing for the deal through Fannie Mae.

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