Canadian REIT Dishes Out $67M for Upscale Asset in Dallas
- Aug 27, 2015
Amalfi Stonebriar, a 395-unit multifamily community in Frisco, Texas, has found a new owner with the help of HFF, which recently arranged $45 million in acquisition financing for the asset.
Located at 5725 Town and Country Blvd., the community sits across from the future headquarters of Toyota and FedEx. It is also in close proximity to the Sam Rayburn Tollway and the Dallas North Tollway.
Completed last year, the apartment complex features units ranging from 603 to 1,689 square feet. The amenity package includes a swimming pool with sun deck, 24-hour fitness center, grilling areas, a resort-style community courtyard and a business center.
The HFF debt placement team was led by Senior Managing Director John Brownlee and Associate Director Michael Cosby. The two represented the borrower, Pure Multi-Family REIT LP.
According to Yardi Matrix property records, the Amalfi Stonebriar complex was acquired for $67.5 million, or $170,886 per unit.
Image courtesy of Yardi Matrix