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324-Unit Little Elm Apartments Trade for $65.3M
Quarry Capital purchased The District in Little Elm, a year-old, 324-unit luxury asset in Little Elm, Texas, for $65.3M. The buyer also assumed the remaining balance of a $49.8 million HUD loan. Palladium USA was the seller. Institutional Property Advisors brokered the transaction. Joey Tumminello, Taylor Hill and Michael Ware, and Drew Kile and Cameron Purse, represented the seller and procured the buyer.
Planet Smart City and Palladium developed the 43,351-square-foot community on 10 acres. The District in Little Elm encompasses one—to three-bedroom floorplans, ranging from 534 to 1,318 square feet.
The apartments have wrap-around balconies and mud rooms. Community amenities include two swimming pools, a business center, a gym, a dog spa and walking areas, as well as 12,000 square feet of retail space.
Located at 300 Lakefront Drive, The District in Little Elm is roughly 8 miles south of U.S. Route 380, while downtown Dallas is some 35 miles southeast.
- ◦Sale/Acquisition
