Berkshire Property Holdings Buys Multifamily Portfolio in Metro Dallas for $56.8M
RICHARDSON, TEXAS — Orlando-based investment firm Berkshire Property Holdings has purchased a two-property multifamily portfolio totaling 568 units in the northeastern Dallas suburb of Richardson for $56.8 million. The Parks at Walnut is a 308-unit property that consists of 25 two-story residential buildings on a 12-acre site, and NinetyNine44 on Walnut is a 260-unit community that features one- and two-bedroom units across 27 buildings on a 10.4-acre site. Both properties offer amenities such as pools, outdoor grilling areas, playgrounds and resident clubhouses. William Jarnagan, Jay Gunn, Taylor Hill, Tom Burns and Michael Ware of Berkadia represented Berkshire Property Holdings and the undisclosed seller in the transaction. A CBRE team led by Brian Eisendrath arranged a 10-year Freddie Mac acquisition loan on behalf of the new ownership.