Three North Texas apartment communities go to Mexico and Florida investment partners

3 North Texas condominium communities have offered to a Mexico Town-primarily based trader operating with a Florida house firm.

The rental communities in the transaction total 880 models and are positioned in Richardson, Grapevine and Carrollton.

A venture of Mexico-primarily based Promecap and Eagle Home Capital Investments of Florida purchased the a few condominium homes.

“Apartment need in Dallas Fort-Well worth carries on to be among the strongest in the region,” Rodrigo Conesa, handling principal at Eagle Property Funds, reported in a statement. “At the exact time, it continues to be just one of the much more very affordable markets and an great setting for us to execute our value-insert strategy in varied neighborhoods with a robust require for workforce housing.

“We’re delighted to add these houses to our expanding Dallas portfolio.”

Eagle Property Capital now owns and manages 17 condominium communities in the Dallas-Fort Worthy of region.

The most recent acquisition incorporates:

• The Mustang Villas Residences on Mustang Generate in Grapevine, which was developed in 1974 and has 246 rental models.
• Prestonwood Apartment Properties on Prestonwood Travel in Richardson, which was developed in 1979 and has 194 units.
• The 400-device Bella Vista Flats, created in 1981 and positioned on Peters Colony Road in Carrollton.

Miami-primarily based Eagle Home Cash Investments, which has an workplace in Dallas, has bought 36 multifamily residential qualities with extra than 8,750 condominium units.

Launched in 1997, Promecap has much more than $3.3 billion in assets less than management.

Dallas-Fort Really worth is the country’s prime condominium investment marketplace, with just about $28 billion in sales in 2021.