A California investor that lately purchased a Dallas rental group has made one other buy in Frisco.
Newport Seaside-based Sares Regis Group purchased the Legends at Legacy flats and townhomes at 3700 Legacy Drive in Frisco.
In-built 1999, the rental group is simply west of the $1.8 billion Frisco Station mixed-use growth. Rents within the complicated vary from close to $1,300 to greater than $2,500 a month.
The property was bought by a New York-based investor. Phrases of the deal weren’t disclosed.
The acquisition was funded with an $89.36 million mortgage from New York-based Forethought Life Insurance coverage.
The Frisco buy comes following Sares Regis’ buy final month of the 300-unit Alta Design District flats on Stemmons Freeway close to Victory Park. That buy was funded with greater than $65 million in financing from Invesco Actual Property.
Sares Regis Group is an virtually 30-year-old house firm that buys and builds tasks. The corporate manages greater than 20,000 house models in California, Arizona, Colorado, Texas and Washington state.
Sares Regis Group additionally owns the McDermott Place flats in Plano and the Heights at Park Lane in North Dallas.
Dallas-Fort Price leads the nation in house gross sales, with greater than $29 billion in flats altering fingers within the 12 months ending in March, in keeping with CBRE Group.