Lion Real Estate Picks Up Dallas Community

Lion Actual Property Group has bought Del Sol on Royal Lane, a 172-unit group in Dallas. The vendor was a personal investor which had owned the Class C property for lower than three years, in line with Yardi Matrix info. Greysteel brokered the transaction on behalf of the client.

Yardi Matrix additionally reveals the client financed the acquisition with a $14.4 million Freddie Mac mortgage from Berkadia. The financing is about to mature in 2029.

Rebranded as Lucia, the group encompasses one-, two- and three-bedroom flats averaging 807 sq. ft. The brand new proprietor plans inside and exterior renovations on the 1966-built property, Greysteel Senior Managing Director Doug Banerjee stated in a ready assertion.

Located on 6 acres at 2825 Royal Lane, Lucia is roughly 12 miles northwest of downtown Dallas, with easy accessibility to Interstate 35. Eating and retail choices can be found within the quick space, on Dennis Highway and Royal Lane. Dallas Love Subject Airport is roughly 7 miles away.

Banerjee, along with Senior Director Jack Stone and Director Andrew Mueller, negotiated the deal on behalf of the client.

Dallas-Fort Price’s multifamily market had a terrific 2021, with fundamentals robust throughout the board. Buyers traded belongings price $14.6 billion within the Metroplex final yr, main all U.S. metros for transactions quantity.