Lions Run Apartments Sells to Dallas Buyer

The Class B Lions Run Apartments sold to ABC Optimal Realty Capital LLC. The 208-unit property in Harker Heights, TX, delivered in the mid-1980s. Paul Yazbeck and Will Clarke with The Multifamily Group negotiated the transaction between buyer and seller, both from Dallas.

Lions Run is at 701 E. Central Texas Expwy., outside Killeen, TX. Yazbeck said that investors are continuing to be interested in secondary markets in Texas. “I witnessed growing demand from new apartment investors entering Killeen market over the last few years,” he added. “These owners have been successful in implementing value-add strategies to renovate untouched multifamily properties.”

The complex offers one and two-bedroom units, measuring between 518 and 884 square feet. The property has experienced troubled times in recent years. One of the previous owners, Omni Lion’s Run LP, filed for Chapter 11 bankruptcy in 2017. Since that time, the property has been through the hands of special servicers, including LNR Partners LLC.

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