MULTIPLE MULTI-FAMILY DEALS
|HFF's Roberto Casas dubbed '09 multifamily activity anemic, but now says the blood is flowing, as HFF helped sell two multi-family projects in Dallas. (This blood talk has us wondering where Bella & Edward might invest. We know you get the reference—Twilight didn’t make $400 million without everyone seeing it.)|
Roberto and HFF’s Bill Miller repped Bank of America in the sale of the 332k SF Broadstone Parkway Class A mixed-use property (on seven acres) in Dallas to USAA Real Estate Company for an undisclosed sum. The two-year-old complex, across from the Galleria at 5005 Galleria Dr., has 333 residential units (93% leased) and 40k SF of retail space (42% leased). Roberto tells us he expects to see a few deals marketed in the first half of 2010 and activity to pick up in the second half.
HFF’s investment sales team (Bill and Roberto again) repped Equity Residential in its sale of a far North Dallas 255-unit multi-housing complex, Preston Bend, to a private California investor (again for an undisclosed amount; we’re hoping these secrets are all revealed onLost tonight.) The nine-acre Class B property at 18790 Lloyd Dr. is 96% leased. Anterra Realty prez Richard Hoffmann repped the buyer.