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McDougal Properties Unloads 1,154 Units to Colorado Buyer
A Colorado buyer has lightened the portfolio of McDougal Properties by acquiring an 1,154-unit, three-property multifamily portfolio in Lubbock, TX. Transwestern’s James Roberts, Philip Wiegand and Taylor Snoddy represented the seller and secured the investment group that bought the complexes for an undisclosed amount.
The properties are:
The 260-unit Dominion Apartments, 5501 50th St.
The 528-unit Park, 5702 50th St.
The 366-unit Ashton Pointe, 308 Frankford
“The multifamily investment market in Texas continues to be very healthy and competitive, with many buyers venturing out of primary markets into secondary markets like Lubbock in search of yield,” Roberts said. “This transaction represented a win-win for both parties, and allowed the buyer to efficiently expand its existing footprint in the Lubbock market.”
For comments, questions or concerns, please contact Amy Sorter
- ◦Sale/Acquisition
