Chicago-based Draper and Kramer has added to its national portfolio of multifamily properties with the purchase of Adriatica Senior Living, a 121-unit rental community for active seniors in McKinney. Terms of the transaction weren’t disclosed.
Located at 375 Adriatica Pkwy., the community is part of Adriatica Village, a mixed-use development modeled after a Croatian fishing village. Draper and Kramer also owns and manages a neighboring multifamily property within Adriatica Village, St. Paul’s Square, which it acquired in 2019.
“With our current presence not only in the Dallas market but also in Adriatica Village itself, this acquisition was a natural addition to our portfolio and aligns with our strategic focus on high-quality assets in growth markets,” said Blas Puzon, CIO at Draper and Kramer.
Adriatica Senior Living is Draper and Kramer’s fifth acquisition in Texas. It also owns Crest at Las Colinas Station in Irving and two San Antonio properties.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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