Sares Regis Group Offloads Two DFW Rental Communities
Sares Regis sold two Dallas multifamily communities to Dinerstein Cos. The two multifamily communities, Heights at Park Lane and Mirasol Park Lane, are adjacent to each other. Making up 571 units, the Heights at Park Lane has 325 units, and Mirasol Park Lane has 246 units. Sares acquired both assets in late 2021.
Multihousing News reports that Massachusetts Mutual Life Insurance Co. issued a $75.2 million acquisition loan maturing in February 2029.
Completed in 2009, the Heights at Park Lane includes one- to three-bedroom layouts ranging from 677 to 3,224 square feet. Amenities at The Heights at Park Lane include two swimming pools with lounge seating and sundecks, a fitness center, a conference room, two spa centers, a clubhouse and outdoor gas grills.
Mirasol Park Lane came online in 2007 at 8110 Park Lane. Amenities at the single-building, six-story community include a business center, a clubhouse, a coworking space, a game room, a swimming pool, two fitness centers, and a sauna.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout