Greysteel Arranges Trade of Dallas-Area Community

Greysteel Arranges Trade of Dallas-Area Community

Landings at Carrier Parkway

Greysteel has facilitated the sale of Landings at Carrier Parkway, a 281-unit multifamily property in Grand Prairie, Texas. Managing Directors Doug Banerjee and Boyan Radic, Senior Investment Associate Andrew Mueller and Investment Associate Andrew Hanson of the company’s Dallas and Fort Worth offices facilitated the sale on behalf of the seller and also procured the buyer. According to Yardi Matrix data, private owner Rodney Debaun sold the property to MLG Capital for $30.8 million.

Located at 915 Desco Lane, Landings at Carrier Parkway is close to Interstate 30, providing easy access to both downtown Dallas and Fort Worth, which are within a 30-minute drive. The 2001-built asset consists of seven buildings across 15 acres, with apartments ranging in size from 522 to 1,240 square feet. Common-area amenities include:

swimming pool volleyball court business center playground fitness facility dog park

“The Property is immaculately maintained and generated great interest throughout the entire marketing process. We conducted over 45 tours and received 24 offers, providing the seller with many attractive options for the asset,” said Banerjee, in a prepared statement.

At the time of the deal, the property had a 97.5 percent occupancy rate. In October 2017, the same Greysteel team facilitated the sale of two multifamily properties in Dallas.

Image courtesy of Greysteel

If you’d like to be featured in Brokers’ Corner, send your deal to deals@cpe-mhn.com.

Source Article

About The Author

Glenn Fleming