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Cantor, CAF Acquire Las Colinas Apartments
Affiliates of Cantor Fitzgerald Investors and an affiliate of CAF Management have acquired a 444-unit Class A multifamily property known as The Station at MacArthur located in Irving’s Las Colinas submarket. Terms of the joint-venture deal weren’t disclosed.
The property is adjacent to Verizon’s Hidden Ridge development, which is expected to host 7,000 jobs and include an office building, a hotel, retail, restaurants and green space when completed.
“The property is ideally located in Las Colinas, a submarket that boasts strong demographics, high occupancy and a growing job market,” said Chris Milner, head of Cantor Fitzgerald Investment Management.
The property features townhouse style layouts with an average unit size of 1,031 square feet and 100% private garage access. As of last month, the property was 94.6% leased, consistent with the Las Colinas submarket that has had an average occupancy of 94.4% since 1996.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
