DALLAS — Broe Real Estate Group (BREG) has completed the acquisition of Maple Terrace Residences in Dallas. JLL Capital Markets brokered the transaction, representing the seller. The sales price was not disclosed.
Opened in August 2024, the property totals 345 units across 22 stories. A partnership between Houston-based Hines, Mitsui Fudosan American and McNair Interests developed the tower. The property is situated within a new mixed-use development in the Uptown neighborhood of Dallas. The Maple Terrace development, which is an adaptive reuse project of historic buildings along Maple Avenue, was appraised this summer at more than $250 million, according to Dallas Business Journal.
Maple Terrace Residences features access to Katy Trail and Park Cities, as well as walkability to the dining and entertainment venues of Uptown.
“Maple Terrace combines exceptional location and unparalleled luxury with quintessential Dallas living,” says Milan Gutesha, senior vice president of investments at BREG. “There’s a reason that global financial institutions, world-class corporations and distinguished professionals all choose Uptown, and Maple Terrace is the ideal entry to this exceptional submarket.”
This acquisition comes on the heels of BREG’s $148 million acquisition of 525 Olive, a 204-unit high-rise multifamily building in San Diego.
Denver-based BREG acquires, develops and manages commercial real estate assets. The company is the real estate affiliate of The Broe Group, an investment firm with an $8 billion portfolio and holdings in real estate, rail, infrastructure, energy, agriculture, water, healthcare and technology. The Broe Group was founded in 1972 by industrialist Pat Broe.
— Hayden Spiess