In the past 30 days, The Multifamily Group (TMG) has successfully closed on six multifamily transactions across various locations in Texas. According to Jon Krebbs of TMG, these deals demonstrate the strength and resilience of the Texas multifamily market. From new investors to experienced ones, there is a growing demand for older properties.
Some notable highlights from these recent transactions include:
– Country View Duplex Community: A 38-unit property built in 2021 located in Red Oak was acquired by an out-of-state buyer using a 1031 exchange with all-cash payment. Their plans for this property include developing additional units and adding amenities on vacant land.
– Heritage of Newark: A local syndicator purchased this property consisting of 26 units built in 1981 using a loan with a loan-to-value ratio (LTV) of up to75%.
– Bella Capri: In partnership with TMG, a local investor expanded their portfolio by acquiring an additional24 units within their existing69-unit portfolio located near top employers and entertainment hubsin Arlington-Grand Prairie area.
-Lakeside: This highly sought-afterproperty consistingof116unitsbuilt between1976and1982 received16 competitive offers before being sold at auction within just35days.
Overall,TMG’s successin closingthese sixdeals showcases its expertiseand strong presenceintheTexasmultifamily market.
