ROCKWALL AND MCKINNEY, TEXAS — Locally based developer SWBC Real Estate has sold two apartment communities totaling 566 units in the Dallas area. The Royalton at Rockwall Downes is a 295-unit property located east of Dallas that SWBC built in 2021 and that offers one-bedroom, two-bedroom, and three-bedroom units with an average size of 1,006 square feet. Amenities include a resort-style pool and spa, fitness center and spin studio, dog grooming facility and a gaming center. Central Park at Craig Ranch is a 271-unit community located north of Dallas within the Craig Ranch master-planned development in McKinney that was completed by SWBC in 2019. This property offers the same types of floor plans and a similar amenity package as Royalton at Rockwall Downes. Affiliates of Lightbulb Capital Group, the family office of Los Angeles-based Jay Schuminsky, purchased both properties for undisclosed amounts. Will Balthrope, Drew Kile, Joey Tumminello, Michael Ware and Taylor Hill of Marcus & Millichap’s Institutional Property Advisors (IPA) brokered the deals on behalf of SWBC.
Pictured is Central Park at Craig Ranch, a 271-unit community in McKinney and one of two Dallas-area properties recently sold by SWBC.
SWBC Sells Two Dallas-Area Apartment Communities Totaling 566 Units
476