Exclusive: Sares Regis, Dinerstein Trade 325 Units in Dallas
The deal closed with help from a $75.2 million loan.
The Dinerstein Cos. has acquired The Heights at Park Lane, a 325-unit apartment community located in Dallas. Sares Regis Group sold the property.
Massachusetts Mutual Life Insurance Co. issued a $75.2 million acquisition loan maturing in February 2029.
Sares acquired The Heights in 2021 from LACERA and Madison Marquette. At the time, Sares financed the acquisition with a nearly $90 million portfolio loan originated by KKR.
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The Heights at Park Lane is a three-building community at 8066 Park Lane. Completed in 2009, it includes one- to three-bedroom layouts ranging from 677 to 3,224 square feet, as well as a penthouse collection with two- and three-bedroom floorplans. Apartments feature floor-to-ceiling windows, walk-in closets, private balconies, fireplaces and bathrooms with walk-in showers.
Amenities at The Heights include two swimming pools with lounge seating and sundecks, a fitness center, a conference room, two spa centers, a clubhouse and outdoor gas grills. Additionally, the property is pet-friendly and has a dog park, while residents have access to some 550 parking spots.
Close-up on DFW multifamily investment
The multifamily transaction volume across Dallas-Fort Worth were close to $4 billion in 2025, according to Yardi Matrix. Assets sold at an average of $166,882 per unit—marking a 2.5 percent uptick compared to the $162,758 price per unit recorded one year prior.
Recent investment activity in the metro includes Mesirow Financial’s acquisition of One21, a 450-unit multifamily property in Plano, Texas. The buyer took a $77 million Fannie Mae loan issued by Walker & Dunlop.
Another notable transaction is KKR’s purchase of a two-community portfolio in Irving, Texas. Totaling 673 units, the portfolio was sold by Lone Star Funds. The new ownership landed a $118 million loan from Rialto Capital Management.
