Texas CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors


Texas  + Dallas-Fort Worth  + Apartments  | 
KeyCity buys N. Dallas apartment community, inherits $14M loan.

KeyCity Acquires North Dallas Rental Community, Assumes $14M Loan

Touro Co. spun off Villa Gardens, a 142-unit multifamily community in Farmers Branch, a North Dallas Suburb. KeyCity Capital was the buyer. Greysteel represented both parties.

Yardi Matrix data reported the buyer also assumed the outstanding balance of a $14 million, 10-year loan originated by Fannie Mae. The fixed-rate note bears interest at below 4 percent per annum.

Completed in 1969, the property encompasses 17 two-story buildings with studio, one-, two- and three-bedroom apartments ranging between 400 and 1,232 square feet. All apartments are slated for renovations under the new ownership.

Community amenities at Villa Gardens include a swimming pool, a playground, two laundry facilities and 225 parking spaces. RAM Partners serves as property manager.

Situated at 2730 Fyke Road, the community is some 18 miles northwest of downtown Dallas. The city of Farmers Branch encompasses approximately 12 square miles and is located on Dallas’ northern border. It lies in the heart of an 11-county area in North Texas.


Inside The Story

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.

  • ◦Sale/Acquisition
New call-to-action