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TMG Closes 6 Texas Apartment Deals
The Multifamily Group (TMG) closed on 6 multifamily transactions across Texas in the last 30 days.
TMG’s Jon Krebbs added, “The variety and volume of these transactions highlight the resilience of the Texas multifamily market. From first-time buyers to seasoned investors, demand for older assets is returning.”
Key highlights include:
—Country View Duplex Community: 38 units | Built In 2021. An out-of-state buyer in a 1031 exchange acquired this 38-unit property in Red Oak with all cash. They plan to enhance value by developing additional units and adding amenities to the vacant land.
—Heritage of Newark: 26 units | Built In 1981. A local syndicator purchased this Heritage of Newark using a 75% LTV agency loan.
—Bella Capri: 24 units | Built In 1969. TMG helped a local investor add 24 units to their 69-unit portfolio in the sought-after Arlington-Grand Prairie area near top employers and entertainment.
—Lakeside: 116 units | Built In 1976/1982. This property had 16 competitive offers, culminating in a 35-day close following a successful auction.
- ◦Sale/Acquisition
