Hacienda Serena Makeover Attracts New Landlord
- Aug 03, 2015
Hot on the heels of being renovated, a 38-unit garden-style apartment community in Irving, Texas, has found a new owner. The transaction was brokered and announced by Washington, D.C.-based Greysteel.
I & J – DSI LLC is the new landlord for Hacienda Serena, an apartment community located at 1409 W. Pioneer Drive. Gresysteel’s sales team of Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss represented the seller, Hacienda Serena LLC.
Renovations included new paint, gutters, railings, stair treads and pergolas with picnic tables, as well as upgrades to 36 units. The community offers direct access to public transportation and major thoroughfares such as the Downtown Irving/Heritage Crossing Station of TRE and Highway 183.
“Hacienda Serena received a first-rate renovation, which allowed us to generate significant investor interest in the asset,” Andrew Mueller, investment associate with Greysteel, said in a prepared statement. “Coupling the recent improvements with strong property and market fundamentals, the buyers were able to secure favorable financing terms through the Freddie Mac Small Balance Loan program.”