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 office building will be demolished. Rampart Multifamily, Inc., based in Grapevine, is the general contractor.
Legacy Arapaho recently broke ground and anticipates the start of leasing and initial occupancy spring 2028, and final completion by spring 2029.
Legacy Arapaho is Legacy’s third apartment community development in Richardson, following Ovation at Galatyn Park which opened in 2024 and Galatyn Station (fka The Venue) which opened in 2008.
Since 2023, Legacy delivered 880 LYN on Lake Carolyn in Las Colinas’ Urban Center, Merit in Lewisville, Ovation at Galatyn Park in Richardson, and Rylan at Gateway in Forney, as well as two single-family build-to-rent communities which made their debut last year.
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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...
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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...
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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