Weinstein Properties Pays $100M to Enter DFW

Multifamily owner and manager Weinstein Properties entered the Dallas-Fort Worth market by paying $100 million for a 662-unit multifamily portfolio. The developer, SWBC Real Estate LLC of San Antonio, sold the two properties, River Walk Village and Timberview Ranch, to the Hampton, VA buyer. Will Balthrope, Drew Kile and Joey Tumminello of Institutional Property Advisors brokered the transaction.

The 358-unit River Walk Village, at 4000 S. Broadway Ave. in Flower Mound, TX, delivered in 2016. The property has one, two and three-bedroom units, and an on-site fitness center, dog park, business center, pool and clubhouse. The 304-unit Timberview Ranch, at 6310 S.H. 360 in Grand Prairie, TX, came online in 2017, and offers one, two and three-bedroom units. On-site amenities include a fitness center, dog park, coffee bar, resort-style pool, business center and lounge.

Weinstein Properties has rebranded the apartments as Bexley River Walk and Bexley Mansfield.

For comments, questions or concerns, please contact Texas Commercial Real Estate News Editor Amy Sorter