Wood Partners Unloads Just-Completed 322-Unit Grand Prairie Rental Community
Sherman Residential has acquired Axis Grand Crossing, a 322-unit luxury multifamily community in Grand Prairie, Texas, a Metroplex suburb. The seller was Wood Partners. This is the fourth community that Sherman owns in the area and the sixth in the state.
Yardi Matrix reported the property, formerly known as Alta Grand Crossing, is currently subject to a $44.8 million loan originated by Nationwide.
Built in 2022, the asset encompasses studio, one-, two- and three-bedroom floorplans ranging from 673 to 1,450 square feet. Community amenities include a 24-hour fitness center, two gated pet parks, a swimming pool, a clubhouse and a business center with private conference rooms. The garden-style property is located between Fort Worth and Dallas, roughly 21 miles from each city’s downtown area. Situated off Interstate 20, Axis Grand Crossing offers residents easy access to large employers including Lockheed Martin and General Motors, both of which operate within a 7.5 mile-radius of the community. Along I-20, there are also multiple retail, dining and entertainment options.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
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