GVA Sells The Lex, a 144-Unit Dallas Apartment
GVA Real Estate Group has sold The Lex, a 144-unit multifamily community in Dallas, to Dunleer. Institutional Property Advisors represented the seller and found the buyer, while also arranging the financing. According to Yardi Matrix data, the sale was subject to a $13.9 million Fannie Mae loan originated by Manufacturers and Traders Trust Co.
Completed in 1984, the garden-style property incorporates 18 two-story buildings with one- and two-bedroom floorplans ranging from 715 to 1,089 square feet. All apartments feature in-unit washers and dryers, fireplaces and granite countertops, as well as fenced backyards, balconies or patios. Community amenities include a swimming pool, a dog park, a media lounge, a fitness center and grilling stations, along with 302 parking spaces.
Located at 9701 W. Ferris Branch Blvd. in the Lake Highlands neighborhood, The Lex is right off Interstate 635, roughly 12 miles from downtown Dallas. Forest Meadows Park is within walking distance from the community, as well as some retail and dining options.