Brazos Residential has acquired a sprawling rental community in North Dallas, consisting of 72 buildings across 23.7 acres in Richardson. Built in phases between 1969 and 1978, the property features studio, one-, two- and three-bedroom floorplans ranging between 465 and 1,256 square feet with amenities including two swimming pools, a playground, tennis court as well as pickleball court and five laundry facilities. Recently emerging from Land Use Restrictive Agreement (LURA), Brazos is now able to switch to fully market rates for immediate value creation at the development located at 13606 Esperanza Road near U.S. Route 75 & Interstate 635 intersection providing easy access across the Dallas-Fort Worth metropolitan area..
Northmarq’s Taylor Snoddy brokered this transaction while Kevin Leamy arranged acquisition financing for Brazos Residential which brings their portfolio up to six properties within Dallas-Fort Worth region following this purchase from Presidium Group who had owned it since 2014
“Nonprofit HOPE Program Secures 10-Year Renewal with Assistance from Cresa”
Cresa’s senior advisors, Waite Buckley and Michael Herz, successfully negotiated a 10-year renewal lease for 7,500 square feet at 1
Steve Griffin
November 15, 2024
