A partnership between Silverado Interests and Noel Partners has acquired Station 3700, a gated community in Euless, Texas. The 321-unit luxury property changed hands in a $45.5 million deal. Yardi Matrix identified the seller as Threshold Capital. Noel Management Co. will handle property management services.
Located on 13 acres at 3700 Post Oak Blvd. in the city’s Stonewood/Stonecreek neighborhood, Station 3700 sits equidistant between Dallas and Fort Worth, Texas. The property is situated close to major employers, retailers and schools. A nearby Trinity Railway Express station provides transportation to and from key locations, while Dallas/Fort Worth International Airport is 7 miles away.
Station 3700 was built in 2000 and underwent renovations in 2015, but the new owner plans to upgrade the community in the near future and add two new dog parks. Station 3700 includes 29 three-story buildings with one-, two- and three-bedroom apartments ranging between 745 and 1,217 square feet. Select units feature patios or balconies, garden jacuzzi tubs, built-in computer desks and bookshelves. Amenities include swimming pools, fitness and business centers, a clubhouse with a cybercafé and an outdoor covered patio area.
Earlier this year, Gardner Capital completed an affordable community in the same area, roughly 9 miles to the west. Provision at North Valentine is a 98-unit, three-story property in Hurst, Texas, that serves families with incomes 30 to 60 percent of the area median income.