The Freshwater Group Buys North Dallas Property
- Nov 29, 2019
The Freshwater Group has acquired 2014 Bennett, a 50-unit community in north Dallas. According to Yardi Matrix data, Indio Management is the former owner of the building, having purchased it back in 2015. Greysteel arranged the sale on behalf of the seller, procured the buyer and arranged $3.5 million in acquisition financing, public records show.
The property occupies an acre at 2014 Bennett Ave., near Freeway 75 in the Knox-Henderson area, around 5 miles from downtown Dallas. The community is conveniently located near public transportation, such as the 024 and 084 bus lines on Ross and Capitol Avenue, respectively. Other nearby amenities include retailers and restaurants on Greenville Avenue: Dollar Tree and Sprouts Farmers Market.
Constructed in 1971, the two-story property comprises a mix of one- and two-bedroom apartments, averaging 706 square feet. All units feature individual air conditioning and private balconies or patios. Common-area amenities include laundry facilities and 64 parking spaces. Recently, the seller completed significant renovations on the property.
Senior Managing Director Doug Banerjee and Director Andrew Mueller were part of Greysteel’s brokerage team involved in the deal. Finance Associate Fisher Wells arranged the financing. Earlier this year, Greysteel also facilitated the sale of a 232-unit community in El Paso, Texas.