Brixton Acquires 288-Unit Las Colinas Rental Community
Brixton Capital has obtained a $40.9 million acquisition loan to purchase Allura Las Colinas, a 288-unit multifamily property in Irving. The Connor Group was the seller.
JLL represented Brixton in securing the non-recourse, fixed-rate loan through a life insurance company. JLL Capital Market’s Debt Advisory team, representing the borrower, was led by Aldon Cole, Tony Nargi, Jacob Martin and Caden Cramer.
Allura Las Colinas, located at 6445 Love Dr. in Irving’s Las Colinas submarket, was built in 2003. It features a mix of one-, two- and three-bedroom floor plans, with amenities including a swimming pool with sun deck, a fitness center, a clubhouse, a gated dog park, outdoor grilling stations and 455 garage parking spaces.
Brixton plans to invest in targeted capital improvements to elevate the property to core-plus standards, driving revenue growth through amenity revitalization, common area enhancements and thoughtful interior upgrades.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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