374-Unit Las Colinas Apartments Trade Hands

RPM Living and Baltisse have acquired The Louis Las Colinas, a 374-unit asset in Irving, Texas, from Draper and Kramer. Walton Street Capital issued a $62.3 million acquisition loan.

Multihousing News reports Draper and Kramer sold the 2017-built community after a six-year hold period. The company acquired The Louis Las Colinas, formerly Crest at Las Colinas Station, from Quarterra Multifamily in 2020 through a 1031 exchange following the sale of a 1,675-unit asset in Chicago.

Rising five stories, the community encompasses one- and two-bedroom layouts that average 873 square feet. Amenities consist of a swimming pool, resident club, private garden, as well as a gym and coworking lounge, among other features.

Located at 871 Lake Carolyn Parkway, the property is adjacent to a Dallas Area Rapid Transit light-rail stop, within the 12,000-acre Las Colinas master-planned hub including 8,400 multifamily units, 27 million square feet of office space and more than 200 restaurants.