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3/13/26
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Madera Residential has acquired Jefferson Cove, a 283-unit, Class A multifamily community located in the high-growth Grand Prairie submarket within the Dallas–Fort Worth Metroplex. Built in 2024, the property is located at 7165 Lake Ridge Pkwy, adjacent to Estes Park on the east side of Texas 360 Toll Rd.
Jefferson Cove is a luxury garden-style property offering contemporary design, premium unit finishes and a resort-style amenity package. Strategically positioned within the Mansfield/Grand Prairie corridor, one of the fastest-growing and most accessible areas in the Dallas-Fort Worth region, the property benefits from proximity to major transportation corridors including Highway 360, Interstate 20 and the President George Bush Turnpike. The apartments are also approximately 30 minutes from both Downtown Dallas and Downtown Fort Worth and offer convenient access to DFW International Airport.
Newmark Vice Chairmen Brian Murphy and Brian O’Boyle, Jr. and Executive Managing Director Richard Furr represented seller TDI in the transaction. Executive Vice Chairman Purvesh Gosalia arranged acquisition financing on behalf of buyer
According to Newmark Research, the South captured 53.8% of total U.S. apartment sales demand in 2025. Importantly, for high-growth Sunbelt markets such as Dallas-Fort Worth, new supply has begun to decelerate meaningfully, with annual unit starts down nearly 30% from two years ago and units under construction declining more than 47% year-over-year. Within this environment, Class A assets have outperformed lower-quality product, posting positive year-over-year rent growth, further supporting investor interest in newly delivered, well-located communities such as Jefferson Cove.
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