Irving Community Taken Off the Market
- Aug 18, 2015
By Liviu Oltean, Associate Editor
A multifamily community in Irving, Texas, has found a new landlord, with the help of Washington, D.C.-based Greysteel.
The real estate capital markets services firm announced the sale of Knollwood, a 188-unit community located at 2727 W. Walnut Hill Lane. The buyer was a local investment group associated with Chun Keung Yue, executive director of TS Asset Monterrey LLC.
According to the announcement, the property underwent more than $650,000 in capital improvements over the past two-and-a-half years. Improvements included office renovations, upgrades to the laundry area, new landscaping, new paint on exterior stucco and a renovated pool area with a pergola.
Greysteel’s team consisted of Boyan Radic, Doug Banerjee, Andrew Mueller and John Marshall Doss. All three acted on behalf of the seller, BJS Knollwood LLC
“The buyer, a local investment group, placed a new 10-year Fannie Mae loan on the property and plans to make significant interior upgrades to increase revenue and build on the work already done by the previous owner,” Doug Banerjee, Greysteel director, said in a prepared statement.