Lion Real Estate JV Buys North Dallas Asset
The partnership received a $20.3 million Freddie Mac loan to finance the purchase of the 140-unit property in Plano.
Lion Real Estate Group and Marble Partners have acquired Highpoint Townhomes in Plano, Texas. Public records show that KCB Management sold the 140-unit community. JLL represented the buyers and also originated a $20.3 million Freddie Mac loan for the new owners, with a maturity date set for 2030.
Located at 6533 E. Medalist Circle, the community is across the street from Plano High Point Park, just north of the Spring Creek Parkway retail corridor. The property, 24 miles north of downtown Dallas, is within 2 miles of Samsung Electronics’ 1,000-employee office campus at Legacy Central.
Completed in 1986, the community comprises 68 two-bedroom apartments and 72 three-bedroom options in 31 one- and two-story buildings on an 8.4-acre site. Common-area amenities include two pools, a business center, a playground and a picnic area.
At the beginning of the year, Lion Real Estate Group paid $48.5 million for The Arbours of Hermitage in Nashville, Tenn. The buyer financed the acquisition of the 350-unit property through a Fannie Mae loan.