Inland Collects $86M For Multifamily Sale

Inland Private Capital Corp. (IPC) disposed of two Texas multifamily properties for a total price of $86 million. The properties sold were the 289-unit Mustang Park Apartments in Carrollton, and the 270-unit Domaine Apartments in Plano. The sale was arranged through IPC, on behalf of a 1031 investment program.

The sales price, and buyer, were undisclosed. Mustang Park is valued at $33.2 million, while Domaine has been assessed at $34.6 million.

Mustang Park, at 4645 Plano Pkwy., delivered in 2009. The property consists of 12 three-story buildings, offering one-, two- and three-bedroom floorplans. The amenities include a clubhouse, fitness and business center, and swimming pool. Domaine Apartments is at 6400 Windcrest Dr., and has one-, two- and three-bedroom units, along with a clubhouse, business and fitness centers, tanning room and swimming pool.

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