Excelsa Properties acquired Pear Ridge, a 168-unit multifamily property located at 4753 Old Bent Tree Lane, Dallas. The acquisition represents Excelsa US Real Estate II, LP’s fifth multifamily property acquisition and the 18th across its portfolios.

Built in 1986, Excelsa Properties will invest $4.3 million to upgrade Pear Ridge. Improvements include the installation of new kitchen fixtures, floors, plumbing fixtures, and ceiling fans. Exterior renovations include roof repairs, boiler repairs, painting refresh, concrete repairs, stair system, HVAC repairs, landscaping, pool fixtures, and clubhouse rehab.

The 12-building gated community features a swimming pool, clubhouse, business center, 24-hour fitness center, laundry facilities, storage spaces, transportation services, and lounges.

With this acquisition, Excelsa Properties has acquired nearly $610 million in U.S. multifamily properties since 2009.

Jonathan Woods of Excelsa Properties, added “Excelsa continues to seek to acquire multifamily properties offering potential for risk adjusted returns in line with the targets of Excelsa US Real Estate II, LP.”