Conti Capital has purchased an $86 million apartment complex from Blackstone Real Estate Income Trust (BREIT). Located in the Telecom corridor at 1350 N. Greenville Ave., GreenVue Apartments was built in 2015 and features 408 units, a half-court basketball court, EV charging stations as well as garage parking. Additional amenities include a pool, fitness center, business center and clubhouse.
The Dallas News reports that the sale included assumption of a $42.5 million loan and an additional $5.3 million in new debt for Conti Capital’s real estate fund performance which includes 4 funds with historical transaction volume over $1.4B along with 46 multifamily properties — totaling over 12,500 apartment units acquired to date . Conti Capital boasts a 20% internal rate of return on its first two investment funds while its third fund is closed and fourth is closing soon; BREIT states their focus on rental housing , industrial , data centers (~80%) located within fast-growing Sunbelt markets without any exposure to commodity office or malls has driven performance .
