Texas + Apartments | November 20, 2020

East Dallas Apartments Trade as Value-Add

CBRE arranged the sale of Bella Vista Creek, a 272-unit, Class B multifamily community at 3402 S. Buckner Blvd. in east Dallas. Austin-based GVA Management purchased the property from Canada-based AmeriCan Multifamily Alliance Group.

Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties in Dallas and Jeff Kunitz and Mike Canori with CBRE Affordable Housing in Seattle represented the seller.

Constructed in 1985 and 1987, Bella Vista Creek features a mix of one- and two-bedroom units and community amenities including a business center, clubhouse, swimming pool and gated access. The buyer has plans for an extensive rehab project.

“We’re seeing the level of interest in larger sized multifamily properties exceed pre-COVID levels as investors can take advantage of spending the money now to see an exponential amount of reward in the future,” said Deuillet, who had sold Bella Vista Creek to AmeriCan.

Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Connect With CBRE’s DeuilletConnect With CBRE’s Kunitz

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints