GRAND PRAIRIE, TEXAS — ARA Newmark has arranged the sale of Towns of Riverside, a 436-unit, Class A apartment property located in Grand Prairie. Irvine, Calif.-based Bascom Group was the buyer, and the company plans capital improvements on the property. Towns of Riverside was 96.5 percent occupied at the time of sale. ARA Newmark’s Brian O’Boyle, Sr., Brian Murphy and Brian O’Boyle, Jr. led the sales effort on behalf of Irvine, Calif.-based Passco Cos. Jamie Leachman of NGKF Capital Markets arranged debt financing on the deal. Towns of Riverside was constructed in 1999 and its average unit size is 997 square feet. Community amenities include a swimming pool, jogging trail, recreational area with sand volleyball, tennis and basketball courts and a fishing pier.
Towns of Riverside is a 436-unit, Class A apartment property located in Grand Prairie.
ARA Newmark Arranges Sale of 436-Unit Apartment Property in Metro Dallas
77