Las Colinas apartment neighborhood becomes most up-to-date obtain by Dallas investor Lone Star Cash
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.
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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.
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