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Mesirow Adds 450-Unit Plano Rental Property to DFW Portfolio
Mesirow Financial acquired Riachi at One21, a 450-unit multifamily property in Plano. Banner Real Estate Group sold the asset. Mesirow took out a $77 million Fannie Mae loan originated by Walker & Dunlop. Commercial Edge reports the property previously traded in September 2011, when Banner acquired it from UDR. Mesirow recently sold 555 Ross Apartments, a 267-unit multifamily property in Dallas’s West End Historic District
Completed in two phases, in 2007 and 2009, the Riachi at One21 occupies 24 acres at 9600 Coit Road. Riachi at One21 is just south of Signature Plaza.
The property encompasses 29 one- and two-story residential buildings. The unit mix comprises one-, two- and three-bedroom floorplans ranging between 663 and 2,104 square feet. All apartments have private balconies or patios.
Amenities include a fitness center, a clubhouse, a business center, a bar, grilling stations and two swimming pools. The community also has more than 700 parking spaces.
