Greysteel Arranges TX Community Sale
- Jul 04, 2018
Metker Garden, a 68-unit community in Irving, Texas, has changed hands. Greysteel’s Managing Directors Doug Benerjee and Boyan Radic, Senior Investment Associates Andrew Mueller and Andrew Hanson and Investment Associate Jack Stone secured the sale on behalf of the seller. Last month, the same team facilitated the sale of a 281-unit multifamily property in Grand Prairie, Texas.
Located at 1005 Metker St., Metker Garden provides convenient access to major employers as well as various shopping, dining and entertainment venues such as Trinity River Mountain Creek Preserve, Twelve Hills Nature Center, or Coppell Nature Park. University of Dallas and University of Texas Southwestern Medical Center are also nearby. Additionally, the Dallas/Fort Worth International Airport is approximately 11 miles away.
Built in 1963, Metket Garden consists of one-story duplex buildings featuring two-bedroom units with an average size of 760 square feet. According to Yardi Matrix data, an on-site laundry facility is available at the property, as well as 150 parking spaces.
“Metker Garden attracted new ownership with the opportunity for major rental upside and high desirability of one-story walk up units with private fenced backyards,” Banerjee said in a prepared statement. “Additionally, new ownership is likely to convert the property to be focused towards senior residents due to the privacy and spaciousness of each unit which was how the property was originally built and run for 30 years.”
Image courtesy of Yardi Matrix
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