ShainRealty Capital Buys LBJ Station Apartments in Dallas for $51M
DALLAS — Los Angeles-based investment firm ShainRealty Capital has purchased LBJ Station, a 249-unit apartment community in the Northwood Heights area of Dallas, for $51 million. The property was built in 2017. Units average 767 square feet and feature one- and two-bedroom floor plans. Amenities include a pool with a sundeck, fitness center with yoga and Pilates studios, coffee bar, clubhouse, two dog parks and a package handling system. Chris Deuillet of CBRE brokered the sale. Alpha Barnes Real Estate sold the property, and Rialto Capital provided $42 million in acquisition financing. ShainRealty Capital plans to invest $1.8 million in renovations and rebrand the property as Infinity on the Point.