175
DENTON, TEXAS — Texas-based private equity firm SPI Advisory has acquired a portfolio of two multifamily properties totaling 248 units in the North Texas city of Denton. Lana is a 116-unit, garden-style property that was originally built in 1981, and Aspire is a 132-unit complex that was constructed in 1970. Both properties offer one- and two-bedroom units and underwent capital improvement programs over the past two years. Mark Allen of GREA represented the seller, Legacy REI, in the transaction. Fritz Waldvogel of Colliers Mortgage originated an undisclosed amount of Fannie Mae acquisition financing for the deal.