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5/22/26
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San Diego-based MG Properties has acquired Reserve at Spring Creek Apartments, a 458-unit multifamily community located in Richardson, TX. The property, which was purchased through the acquisition of the REIT entity that owned the community, is located at 2710 Routh Creek Pkwy. The price was not given out.
Built in 2019, Reserve at Spring Creek Apartments is a low-density apartment community providing residents with walking access to the adjacent Spring Creek Nature Reserve as well as nearby restaurants and the CityLine Market retail center.
Located in Richardson’s Telecom Corridor, Reserve at Spring Creek Apartments offers residents direct access to the region’s premier employment centers and strong transportation infrastructure. The property also benefits from a walkable mix of retail, dining, and recreational amenities. Richardson continues to attract major corporate investment and population growth, supported by the broader North Texas economy and the city’s emergence as an innovation hub for technology, telecommunications, and professional services.
The seller, an affiliate of Lone Star Funds, was represented by Joey Tumminello, Drew Kile, Michael Ware, Taylor Hill, and Jack Windham of Institutional Property Advisors (IPA). Freddie Mac financing for the transaction was arranged by IPA Capital Markets’ Cameron Chalfant, Brian Eisendrath, Harry Krieger, and Scott Arenzon. With this deal, MG’s current portfolio is comprised of over 32,000 rental homes in California, Washington, Arizona, Nevada, Colorado, Texas, and Oregon, across 115 communities.
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