Quarry Capital recently acquired The District, a luxurious 324-unit apartment complex in Little Elm, Texas for $65.3 million. The purchase also included the assumption of a $49.8 million HUD loan balance from seller Palladium USA. Institutional Property Advisors facilitated the transaction with brokers Joey Tumminello, Taylor Hill, Michael Ware, Drew Kile and Cameron Purse representing the seller and procuring the buyer.
Developed by Planet Smart City and Palladium on 10 acres of land, this community spans over 43,351 square feet and offers one to three-bedroom floorplans ranging from 534 to 1,318 square feet each.
The apartments feature wrap-around balconies and mud rooms while residents can enjoy various amenities such as two swimming pools,a business center,gym,dog spa,and walking areas along with retail space spanning over12 ,000squarefeet .
Conveniently located at300 Lakefront Drive,the property is just eight miles south of U.S.Route380and approximately35miles southeastof downtown Dallas .
