Out-of-State JV Invests in $74M Jefferson Alpha West

Buchanan Street Partners teamed with CarVal Investors  to make a $16 million preferred equity investment in the 409-unit Jefferson Alpha West, a $74-million, Class A apartment complex soon to be under development in Farmers Branch, TX. JPI and Bridgeview Real Estate are developing the multifamily project, the first phase of the mixed-use, master-planned Alpha West project at Alpha and Inwood Roads in suburban Dallas.

“Our investment in Jefferson Alpha West offers the opportunity to participate with a premier multifamily developer in JPI, and contribute to a significant mixed-use project in the dynamic Galleria submarket,” said Bob Dougherty with Newport Beach, CA-headquartered Buchanan Street Partners. Partner CarVal Investors is in Minneapolis.

Upon buildout, the 14-acre Alpha West will have up to 300,000 square feet of office space, 100,000 square feet of retail and a 155-key hotel. The four-story Jefferson Alpha West will feature one and two-bedroom apartments, ranging from 566 to 1,280 square feet.

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