Sprawling N. Dallas Rental Community Acquired by Brazos Residential

The Thread consists of 72 buildings across 23.7 acres in Richardson. Brazos Residential purchased the project from the Presidium Group who had owned it since 2014. This acquisition brings Brazos’ portfolio to six properties in the Dallas-Fort Worth area.

Built in phases between 1969 and 1978, the community has studio, one-, two- and three-bedroom floorplans ranging between 465 and 1,256 square feet. Amenities include two swimming pools, a playground, a tennis court, a pickleball court and five laundry facilities.

Multihousing News reports the development recently emerged from a Land Use Restrictive Agreement, which allows the firm to create immediate value by switching to fully market rates. Northmarq’s Taylor Snoddy brokered the transaction, while Kevin Leamy arranged acquisition financing.

Located at 13606 Esperanza Road, the community is near to the intersection of U.S. Route 75 and Interstate 635, which provide easy access across the Dallas-Fort Worth metropolitan area.