The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
September 22, 2020
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Texas Multifamily Portfolio Trades Hands


A multifamily portfolio in Denton, TX consisting of six properties totaling 325 res units, along with 18k sf of commercial space, traded hands. Located in a northern suburb of Dallas-Fort Worth, the portfolio comprises Locust 210 Lofts, Victoria Heights, Victoria Station, Victoria Village, The Adagio, and Locust Street Terrace Apartments.

The Adagio
The Adagio
Each of the Class A, mid-rise properties were built between 2009 and 2014 and were 94% leased at the time of sale. The classic unit interiors were highly accretive to the future yield profile, offering a double-digit Year-1 return. The buyer intends to invest $3.2 mil toward interior renovations and exterior capital improvements to enhance the overall, live-work-play, experience for the tenants.

Totaling 325 units and more than 18,000 square feet of commercial space, the portfolio represented an excellent opportunity to invest in the high barrier-to-entry Denton submarket, which is experiencing significant in-migration. The popular downtown city-center location positions each property to experience substantial organic rent growth through lease-over-lease gains.

Victoria Station
Victoria Station
A Walker & Dunlop team led by Kyle Palmer served as advisor to both the sellers and buyer of the properties. All parties were local, private-equity investors. The acquisitions expand the buyer’s existing Texas portfolio, which also includes the Madison Park, Wyndham Pointe and Oasis Springs properties.

Palmer and W&D colleague Jeremy Nussbaum sourced a streamlined bridge financing solution for the buyer through a national debt fund. The loan terms included an attractive rate of 4.14%, interest-only for three years, and a loan to value of 80%.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2020 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media