Acquisition Financing Secured for Edentree Apartments

Lane Star Properties successfully acquired the 360-unit Edentree Apartments, with help from $26.2 million in financing. Alex Inman with Walker & Dunlop led the team that secured a 12-year, fixed-rate, full-term, interest-only loan for the Dallas-based borrower. The seller was listed as Carrollton Edentree LP.

Edentree Apartments, at 1721 Frankford Rd. East in Carrollton, TX, opened in the early 1980s, and underwent significant renovations over the past five years. On-site amenities include a business and fitness center, outdoor kitchen and grilling area, playground and sports courts and a swimming pool with hot tub. The complex offers one and two-bedroom units, ranging in size from 600 to 1,052 square feet.

The Texas Multifamily conference is taking place on Aug. 23! Log on here for information, and to register.

For comments, questions or concerns, please contact Amy Sorter