206-Unit Irving Rental Asset Bought by Lone Star Capital

Eagle Property Capital has sold the 206-unit Grand Riviera Apartments, a community in Irving, Texas, to Lone Star Capital. Commercial Edge reports the buyer took out a five-year, $19.5 million Freddie Mac acquisition loan originated by Greystone.

Institutional Property Advisors closed on the deal, as well as procured the buyer and financing. The IPA team that represented Eagle Property Capital and procured Lone Star Capital included Michael Ware and Taylor Hill, Drew Kile, Joey Tumminello and William Hubbard.

Units range from one- to three-bedroom apartments and two-bedroom townhouses, across 19 two-story buildings. Located at 2877 W. Walnut Hill Lane, amenities at the garden-style community include two swimming pools, a clubhouse, a dog park, a picnic area with grills and 300 grade-level parking spaces. Grand Riviera is between two large employment hubs, with the Dallas-Fort Worth International Airport nearby. There are several restaurants and eateries nearby, as well as a couple of shopping centers, parks and golf courses.