Texas + Apartments | January 16, 2017

Crow Holdings Snaps Up TOD Apartments

A Crow Holdings investment fund acquired the 449-unit Phoenix Midtown apartments from Principal Life Insurance Co. of Des Moines, IA. Located at 5555 E. Mockingbird Lane, the more than 15-year-old complex is next to the Dallas Area Rapid Transit’s Mockingbird light rail station. HFF marketed the property.

A sales price was undisclosed. The Dallas Central Appraisal District assigned a market value of $49.1 million to the complex. Greystar is managing the asset.

According to the property website, Phoenix Midtown offers studio apartments, as well as one-, two- and three-bedroom units. Apartments measure from 433 square feet-2,037 square feet. Rent range between $1,000-$2,700 a month.

For comments, questions or concerns, please contact Amy Sorter

For advertising information, please contact Joni Margotta

Connect

Inside The Story

About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

Order Reprints