DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased Yorktown Luxury Apartments, a 226-unit complex located in the Kessler Park area of Dallas, for $39.5 million. Built in 2016, the property offers studio, one-, two- and three-bedroom units and amenities such as a pool, lounge and outdoor grilling and dining stations. Eric Calub, Caleb Jones and Paul Harris of Berkadia brokered the sale. The seller was Nuveen Real Estate. Arbor Realty Trust provided a $27.6 million CMBS acquisition loan to ShainRealty Capital that was structured with a five-year term, fixed interest rate of 5.88 percent and a 70 percent loan-to-value ratio. The new ownership will make capital improvements and has rebranded the property as Infinity on Yorktown.
Infinity on Yorktown in Dallas totals 226 units. The property was built in 2016.
ShainRealty Capital Buys Dallas Apartment Complex for $39.5M
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