Dallas-Area Community Changes Hands
- Oct 31, 2018
Greysteel has arranged the sale and financing of a 68-unit community in the Dallas area. New Orleans Apartments, located at 1801-1809 Cox Drive in Carrollton, Texas, was built between 1962 and 1963 and was recently renovated.
The community is situated about 20 miles north of Dallas and is comprised of a mix of studios, one-, two- and three-bedroom units with an average of 706 square feet per unit.
New Orleans Apartments is located in the southern region of Carrollton, about one mile from historic downtown Carrollton and the Downtown Green Line DART, a light rail system which connects residents to Uptown Dallas, the Dallas CBD and the Las Colinas Urban Center. The property is situated two blocks east of Interstate 35 and three miles north of Interstate 635.
A Greysteel team of Managing Directors Doug Banerjee and Boyan Radic, Senior Investment Associates Andrew Mueller, Andrew Hanson and Scott Simon, Senior Finance Associate Daniel Hartnett and Investment Associate Jack Stone sold the asset on behalf of the seller and arranged the financing on behalf of the buyer.
In August, Greysteel arranged acquisition financing for Lancaster Cornwall Apartments, a 265-unit multifamily community located in Beaumont, Texas.
Image courtesy of Greysteel