230-Unit Las Terrazas add $1.3M new spice with new owners
DALLAS – The 230-unit Las Terrazas apartment complex, located at 14018 Brookgreen Dr., has been acquired by Performance Properties.
The buyer plans to spend $1.3 million to update Las Terrazas, focusing on the exteriors of the 21 buildings to create an entirely new look for the late 1960s-era complex set on 9.8 acres.
Work will start immediately on new roofs, stairwells, landings and landscaping.
It will take nine months to one year to complete the renovation on the 98 percent leased property.
Las Terrazas contains 98 two-bedroom, two-bath units and the remaining balance consists of efficiencies and one-bedroom, one-bath floor plans.
Units average 745 sf and rents average $627 per month.
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