Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Texas  + Dallas-Fort Worth  + Apartments  | 
37th Parallel Properties has sold Presidio, a 202-unit community in Allen

Allen, Texas Apartment Asset Picked Up by Staples Investment Properties

37th Parallel Properties has sold Presidio, a 202-unit community in Allen, Texas. Institutional Property Advisors worked on behalf of the seller and procured the buyer, Staples Investment Properties. UBS Bank provided a $28 million acquisition loan for the deal.

Located at 1500 South Jupiter Road in the northern part of metro Dallas, the garden-style community dates back to 1986. Presidio is less than 3 miles away from Legacy Central, a newly constructed mixed-use development in Plano, Texas.

Standing on more than 10 acres, the community features one and two-bedroom floorplans, with units averaging out at 993 square feet. Common-area amenities include a clubhouse, business center, playground, tennis court and fitness center. In-unit amenities consist of patios or balconies, washers, dryers and fireplaces available in select units.

The IPA team involved in the deal included Will Balthrope, Drew Kile, and Taylor Hill, Michael Ware and Joey Tumminello.

Connect

Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
NewPoint-07-cube
New call-to-action
AshcroftCapital-07-cube