Dallas Apartment Tower Sells To Kushner Cos.: The DFW Deal Sheet

The family firm of President Donald Trump's son-in-law bought a luxury high-rise apartment building in Dallas.

Kushner Cos., the family firm of Ivanka Trump’s husband, Jared Kushner, bought the 330-unit Eastline Residences multifamily tower at 6050 N. Central Expressway in Dallas from Convexity Properties LLC for an undisclosed amount.

The building was delivered by Convexity Properties in 2021 and has maintained average occupancy around 95% since opening, according to Northmarq's Eric Stockley. Eastline Residences has also experienced nearly 4% rent growth over the last year.

“Eastline Residences represents exactly the type of trophy asset that institutional buyers aggressively compete to acquire, and we’re proud to have guided this transaction to a successful close,” Stockley said in a statement. 

Stockley, Taylor Snoddy and Charles Hubbard from Northmarq’s Dallas multifamily investment sales team arranged the sale, while the firm’s Kevin Leamy and Lauren Bresky advised on financing on behalf of the buyer.

SALES

Momentum Wealth Fund bought the 192-unit StorageHome property in Wilmer from Wilmer Storage LLC. The nearly 30K SF self-storage facility at 407 Thorne St. was built in 1979 and expanded in 2007. Marcus & Millichap’s Thomas Dickinson, Danny Cunningham and Brandon Karr marketed the property on behalf of the seller and procured the buyer. 

***

Dallas-based Atlantic Hotel Group sold the 103-room Residence Inn Dallas at The Canyon hotel to private investor group Jean Valjean LLC. The four-story property at 3425 Canyon Bluff Blvd. in Dallas was built in 2018. Marcus & Millichap’s Chris Gomes and Allan Miller represented the seller, while the firm’s Clayton M. Hill and Gordon Allred procured the buyer.

***

Foundry Commercial’s development and investments platform, in partnership with DWS Group, acquired a 52-acre infill site near Dallas Fort Worth International Airport. The project, known as Horizon II, is a former State Farm Insurance campus that includes four office buildings constructed in 2005. They total around 635K SF. 

Foundry plans to demolish the structures and redevelop the site into industrial facilities designed to meet sustained tenant demand for infill warehouse space near the airport. The Conlan Co. is the general contractor for the project, while Pross Design Group will be the architect and Langan Engineering will serve as civil engineer.

***

Cushman & Wakefield’s national industrial advisory group represented an institutional owner in the disposition of a 1.6M SF industrial portfolio with properties in Dallas-Fort Worth, California’s Inland Empire West, Salt Lake City and Nashville. The DFW portion includes the 201K SF Valwood A, the 134K SF Valwood C and the 127K SF Valwood D in Carrollton. The seven-building portfolio is 97% leased to national and regional tenants. Cushman & Wakefield’s Jim Carpenter, Adam Pastor, Robby Rieke, Emily Brandt, Jeff Chiate and Casey Masters worked on the transaction.

***

Performance Brokerage Services announced the sale of heavy equipment dealership South Star JCB’s two locations in Lewisville and Fort Worth. Performance Brokerage Services’ Pat Albero and Dan Argiro were the sell-side advisers on the transaction.

***

Venture X franchise owners Kevin and Geidre Priddy of Priddy Spaces acquired four flexible workspaces in the DFW market. The husband-and-wife team acquired the locations from Plano-based landlord Michael Comegys. The four locations being converted to Venture X are:

• The 22K SF location at 600 W. Sixth St., Suite 400, in Fort Worth.
• The 36K SF location at 6010 W. Spring Creek in Plano.
• The nearly 27K SF space at 500 N. Central Expressway, Suite 500, in Plano.
• The 40K SF location at 17250 Dallas Parkway in Dallas.

CONSTRUCTION AND DEVELOPMENT

Hillwood began construction of the 1.2M SF Alliance Westport 12 industrial building at AllianceTexas. Construction is scheduled to begin this month and last into the first quarter of 2027. The project was designed by GSR Andrade Architects. Civil engineering services were provided by Westwood Professional Services, and Hillwood Construction Services will serve as the general contractor. Alliance Westport 12 is financed by Bank of America.

***

FTK Construction Services completed a $13.6M rehabilitation at the 204-unit West Virginia Park property in Dallas. The property was originally built in 2004. The lender for the project was PNC Multifamily Capital. The property is owned by April Housing, a Blackstone Real Estate portfolio company. 

PEOPLE

Jordan Foster Construction added Erica A. Wolff as executive director of people strategy. Wolff will lead the company’s talent development and organizational effectiveness initiatives. Wolff has more than two decades of progressive human resources leadership and was most recently with Fringe Benefit Group.

***

Endurance Investment Partners added Barry Davis, James Lytal, Tony Weber and Scott Gieselman as senior advisers. Davis has more than four decades of experience founding and scaling midstream infrastructure companies. Lytal has more than four decades of midstream leadership and advisory experience. Weber was most recently the managing partner of NGP Energy Capital Management. Gieselman’s experience spans public and private markets.

***

American Beacon Partners appointed John Linnehan as chief financial officer. Linnehan will oversee American Beacon’s financial health, strategic planning and corporate initiatives. Linnehan has more than 30 years of experience and was most recently CFO at Aflac Global Investments.