DALLAS, GARLAND, MESQUITE, FORT WORTH AND TYLER, TEXAS — Tranwestern has brokered the sales of 1,600 multifamily units in the Dallas-Fort Worth area valued at $85 million. Taylor Snoddy, Philip Wiegard and James Roberts of Transwestern represented the seller and sourced the buyers in the five transactions. The acquisition prices for the individual transactions were not released.
In the first deal, a New York-based investment group acquired North Park Terrace, a 310-unit property located at 8662 Park Lane in Dallas, and Pecan Tree, a 173-unit community located at 3001 Kendale Drive in Dallas.
In the second transaction, an Oregon-based investment group purchased Eastfield Plaza, a 216-unit community located at 2626 John West Road in Mesquite. The buyer plans to renovate the property.
In the third deal, a New York-based investment group acquired Parque Del Sol, a 200-unit property located at 238 E. Oates Road in Garland.
In the fourth transaction, a Northern California-based investment group purchased Woods of Ridgmar, a 235-unit community located at 2200 Taxco Road and 2200 Ridgmar Plaza in Fort Worth.
In the final deal, a Dallas-based investment group acquired 34 Hundred, a 484-unit complex located at 3400 Varsity Drive in Tyler. The buyer plans to renovate the property, which is located across the street from the University of Texas at Tyler.