Kushner Cos. has purchased Eastline Residences, a 330-unit luxury rental tower in Dallas, from Convexity Properties. The transaction involves a high-rise multifamily asset that has maintained an average occupancy of 95 percent over the past five years, according to Northmarq.
Eastline Residences is situated on nearly 2 acres at 6050 N. Central Expressway and rises 28 stories. The property offers one-, two- and three-bedroom floorplans ranging from 605 to 1,668 square feet. Residences feature private balconies or patios and walk-in showers, positioning the asset at the higher end of the local rental market.
The tower also incorporates approximately 15,000 square feet of first-floor retail space, adding a street-level commercial component to the primarily residential property. Shared amenities for residents include a swimming pool, business center, clubhouse and fitness center, along with a sundeck.
Commercial Edge reports that Convexity completed the tower in 2021. The development was financed with a $72.3 million construction loan that closed in May 2019, originated by Fifth Third Bank. That financing supported delivery of the project prior to its subsequent sale to Kushner.
On the capital markets side, Northmarq’s Taylor Snoddy and Charles Hubbard represented Convexity in the sale. Northmarq notes that this transaction ranks as the second-largest single-property residential sale in the area since 2022, underscoring the profile of the asset within the local investment sales market.
On the buy side, Kevin Leamy and Lauren Bresky advised Kushner in securing financing for the acquisition. While specific loan terms for the new financing were not disclosed, the involvement of dedicated advisors highlights the structured debt component behind the deal.
With its high occupancy history, mix of unit sizes and integrated retail, Eastline Residences represents a stabilized, amenitized tower that has now traded from its original developer, Convexity Properties, to a new institutional owner, Kushner Cos.
