Irving: CBRE announces sale of 308-unit NewportIrving: CBRE announces sale of 308-unit Newporthttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=107432015-10-07T05:00:00Z2015-10-07T14:00:00Z

​​​IRVING - CBRE Capital Markets’ Investment Properties announces the sale of Newport, a 308-unit multifamily community in the North Dallas suburb of Irving. ​

The 238,784-sf asset, located at 3466 North Beltline Rd. in Irving, was built in 1981. The Class B complex is comprised of one- and two-bedroom units with an average size of 775 sf. 

Two hundred units have been upgraded with modern wall texturing, customized kitchen cabinet doors, black appliances and faux-wood flooring in select areas of each unit. ​​

The experienced buyer plans to complete the remaining unit remodels, add a dog park and increase the size of the play area.​

It was 96 percent occupied at closing. 

The PPA Group, based in Austin, purchased the asset from Shreveport, Louisiana-based Fortis Company. Chris Deuillet, First Vice President with CBRE in Dallas, represented the seller.​

CB Richard Ellis
Dallas-Fort Worth-Arlington
http://www.cbre.us/o/dfwmarket/real-estate-news/Pages/default.aspxSource: {Source}

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