GFI Enters North Texas with 277-Unit Apartment Buy
GFI Capital Resources Group struck a deal with Davis Development to acquire the latter’s Venue Craig Ranch in McKinney, TX. The 277-unit buy is the New York City-based investor’s first in North Texas. The property at 4651 S. Custer Rd. sold for an undisclosed price.
The property, which recently delivered, is situated in Craig Ranch, a 2,200-acre, master-planned community in the far north suburban Dallas area. The 87%-occupied apartment complex features a mix of one, two and three-bedroom units across seven buildings. On-site amenities include a 24-hour fitness center, resort-style pool, resident game room, putting green and a pet park.
“While this is our first acquisition in North Texas, we truly believe in the area’s continued growth, and we’re strongly considering expanding our portfolio with other premier multifamily properties in the region,” said GFI’s Scott Ferguson.
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