Broe Group Makes 1st Dallas Acquisition
The transaction was an all-cash deal.
Broe Real Estate Group, the real estate arm of the Broe Group, has acquired Maple Terrace Residences in Dallas, a 22-story, 345-unit apartment community in the Uptown district of the city. The seller was a joint venture between Hines, McNair Interests, Mitsui Fudosan America.
Broe has rail and real estate holdings in Texas, but this deal marks its entry into the Dallas multifamily market.
The parties involved did not disclose the price, though they did say that it was an all-cash deal. The Dallas Business Journal reported that the Dallas Central Appraisal District most recently valued the entirety of the mixed-use Maple Terrace at more than $250 million, but that figure also covers the office and retail portions of the development not acquired by Broe.
JLL Capital Markets Investment Sales and Advisory Teams represented the seller in the transaction. Hines will continue to manage the property.
Maple Terrace Residences, located at 3003 Maple Ave., opened in 2024 and is part of the new mixed-use Maple Terrace development. The property offers one-, two-, three- and four-bedroom residences and is nearly 92 percent occupied, according to Yardi Matrix.
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Common-area amenities include a fitness center, a media room, a club house, a swimming pool and a business center. All units include washers and dryers, microwaves and digital locks; some units include fireplaces. There are 811 parking spaces within the structure.
About $180.6 million in permanent financing, originated by Sumitomo Mitsui Bank in 2021, is associated with the property, Yardi Matrix reports.
Colorado-based Broe Group manages an $8 billion portfolio of multifamily, commercial and rail assets.
In October, Broe Real Estate Group acquired 525 Olive in San Diego, its first asset in Southern California’s multifamily market, for a reported $148 million. The 20-story, 204-unit apartment building opened in 2022 in San Diego’s Bankers Hill neighborhood. Walker & Dunlop’s Hunter Combs advised on the transaction.
Recent DFW multifamily deals
Investment in multifamily properties in greater Dallas has been brisk this year, at about $1.7 billion worth of deals in the first half of 2026. That figure is somewhat lower than a year earlier, when the total was $1.9 billion, Yardi Matrix notes. Still, DFW was the fifth-most popular U.S. market for multifamily investment during the first half of this year, topping such markets as Phoenix, Los Angeles and intra-Texas rival Houston.
In October, Hines Global Income Trust closed on a $170.5 million purchase consisting of the Bishop Arts Portfolio, a nine-building collection comprising 539 multifamily units and 49,000 square feet of retail space in Dallas. Exxir Capital sold the assets, which were developed between 2018 and 2025.
In September, Bader Cos. acquired The Arts, a 228-unit asset in Dallas, from GF Properties Group. The property, completed in 2010, is in that city’s downtown.
