Partially Affordable Northeast Dallas Asset Changes Ownership

Meadows at Ferguson. Image Courtesy of Greysteel

Greysteel has facilitated the sale of a 264-unit partially affordable housing community—Meadows at Ferguson—in Dallas. The firm represented the seller and also procured the buyer. According to Yardi Matrix data, the former owner of the property is Henley Properties, a company that acquired the asset back in 2019 from a private seller.

Located at 11760 Ferguson Road, Meadows at Ferguson is next to Lyndon B. Johnson Freeway and Ferguson Road. There are several retail and green spaces in the area, such as Dallas Athletic Club, Bass Park and Cotillion Park. White Rock Medical Center and Dallas College Eastfield Campus are within 5 miles of the community, and Southern Methodist University and Richland College are within 10 miles.

Completed in 1983, Meadows at Ferguson encompasses 15 buildings with one-, two- and three-bedroom units ranging between 506 and 1,019 square feet. Common-area amenities include a clubhouse, a spa and two swimming pools. Fireplaces and washers and dryers are available in select units. Greysteel Senior Managing Director Doug Banerjee said in prepared remarks that the new owner of the property plans to upgrade unit interiors to increase rents to the maximum level allowed in Dallas County.

In spring, Banerjee was involved in another transaction in the metro. Greysteel represented buyer Lion Real Estate in acquiring a 172-unit community, Del Sol on Royal Lane.