CBRE Negotiates Sale of Multifamily Property in Arlington

ARLINGTON, TEXAS — CBRE Capital Markets’ Investment Properties has negotiated the sale of Serena Vista Apartments, a 120-unit, value-add multifamily community in Arlington. Des Moines, Iowa-based BHE Acquisitions purchased the asset from Cascades 120 LLC for an undisclosed amount. Dirk Goris and Chris Deuillet of CBRE’s Dallas office represented the seller. The 105,636-square-foot asset, located at 1519 San Francisco Court, was built in 1980. The complex consists of 15 different floor plans and offers efficiency, loft, one-, two- and three-bedroom options. It was 97 percent occupied at closing. Most of the units have received flooring and/or countertop and cabinet upgrades. Five units were recently updated with stainless steel appliances, kitchen backsplashes and fans.