Greybrook Picks Up 334-Unit Mansfield Rental Community
The Greybrook U.S. Multifamily Income & Growth Fund acquired Evolv, a 334-unit multifamily property in Mansfield. Greybrook landed a $39.2 million acquisition loan from Greystone as part of the deal. The fixed-rate Fannie Mae loan carries a five-year term, with three years of interest-only payments followed by a 35-year amortization schedule.
Greystone’s financing team included Richard Kourbage, Garvin Lee, and Gillian McIlroy. Cushman & Wakefield’s Investment Sales team, Grant Raymond and Asher Hall, represented the seller, Advenir Living, in the transaction. Cushman & Wakefield’s debt professionals included Chase Johnson and Caleb Riebe.
Built in 2012, Evolv is a garden-style multifamily community situated on approximately 18.6 acres at 370 North State Highway 360 in Mansfield. The property features private patios or balconies. Community amenities include a resort-style swimming pool, 24-hour fitness center, clubhouse, outdoor kitchen, playground, dog park and garage parking.
Mansfield is located southwest of Dallas and southeast of Fort Worth.
Other News
Legacy, CrossHarbor Teaming Up on 444-Unit Richardson Apartment Community
Legacy Partners, together with their equity partner CrossHarbor Capital Partners, has acquired a 10.4-acre site in Richardson, Texas, with plans to develop Legacy Arapaho, a 444-residence apartment community. The partnership recently closed on the site at 250 E. Arapaho Rd. with a construction loan from First United Bank of Durant, Oklahoma. The existing vacant two-story...
Learn more
Aspen Square Spins Off 395-Unit Marietta Rental Asset
Aspen Square Management offloaded the Legacy at West Cobb in Marietta, Georgia, for $48 million. The 395-unit apartment complex was sold to Acento Partners. Andrew Mays and Paul Vetter of Berkadia Atlanta represented the seller. Berkadia also arranged a $36 million acquisition loan. The property was 88% occupied at the time of sale. Berkadia’s Mays...
Learn more
Charlotte Apartment Developer Inks $68.5M Loan
Broadshore Capital Partners closed a $68.5 million senior bridge loan secured by J Optimist Park, a newly delivered 350-unit Class A multifamily community located at 1130 North College Street in Charlotte. Broadshore completed the transaction in partnership with borrower entity Jefferson Apartment Group. CBRE’s Nate Sittema and Kristen Reilley served as brokers on the transaction. The...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout