A main Dallas-centered trader has snapped up a Las Colinas condominium neighborhood.
Developer JPI’s Jefferson Promenade rental community is about 400 units and located in Irving. Opened last yr, the residences just marketed to a device of Lone Star Money, deed documents show.
The home is just blocks from Irving’s conference center and lodge and all-around the corner from the Toyota Music Factory amusement and retail center. The luxury rental community also is inside of walking length of a DART commuter rail station and is in an location observing sizeable growth.
The sale to Lone Star Money is just the most current transaction between builder JPI and the investment decision company.
In August, JPI offered practically 2,000 flats in 5 regional rental communities to Lone Star Money in a person of the premier profits of Dallas-space residences in yrs. The large order, which provided just lately developed flats in Dallas, Irving, Richardson and Farmers Department, was financed with $270 million in financial debt from Money One particular.
JPI is the Dallas-Fort Worthy of area’s largest apartment builder, with almost 5,000 rental models in the growth pipeline. The Irving-based mostly developer just begun perform on a 422-unit rental community in Frisco.