GFI Acquires Newly Built Dallas-Area Community
- Nov 23, 2017
An affiliate of GFI Capital Resources Group has acquired Venue Craig Ranch from Davis Development. The sale was subject to a $34 million Freddie Mac loan. The 277-unit community in McKinney, Texas, was completed earlier this year.
Located at 4651 S. Custer Road, the seven-building multifamily asset features one-, two- and three-bedroom apartments ranging from 661 to 1,469 square feet. Community amenities include a fitness center, business center, clubhouse and a swimming pool. Venue Craig Ranch is 87 percent occupied and offers granite countertops, wood plank floors and stainless steel appliances. The property is situated a few miles from multiple schools, including Lucille Rogers Ashley Elementary School, Nelson Middle School and Independence High School.
The deal comes a few months after ZOM Living broke ground on Kinstead, a 376-unit McKinney luxury community, four miles from Venue Craig Ranch.
Image courtesy of GFI Capital Resources Group