169
DALLAS — CBRE Capital Markets has arranged the sale of Brandywine Apartments, a 100-unit, value-add multifamily community in Dallas. 4710 Lake LLC purchased the complex from Brandywine Investments LLC. Chris Deuillet of CBRE’s Dallas office represented the seller. The property is located at 4710 Lake Ave., east of Parkland Hospital and the Dallas Medical District, and is 95 percent occupied. Current growth at Parkland Hospital and in Uptown Dallas is driving demand for upper end and workforce-level housing in the area. Planned improvements could support increased rental rates and property value. The average rental rate at Brandywine is approximately 23 percent less than the average rental rate in the immediate area.