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Bluerock buys Frisco, Fort Worth Class A communities for $97MBluerock buys Frisco, Fort Worth Class A communities for $97Mhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=110972015-11-10T06:00:00Z

​​​​DALLAS-FORT WORTH - Bluerock Residential Growth REIT Inc. and operating partner Carroll Organization finalized an off-market transaction with Davis Development for two Class A multifamily communities totaling 674 units. 

The communities include:

  • Sorrel Philips Creek Ranch, located at 5050 FM 423, offers studio, one-, two- and three-bedroom units ranging from 814 sf to 1,583 sf.
  • ​The Sovereign Apartments, located at 5301 N. Tarrant Pkwy., offers one-, two- and three-bedroom units ranging from 660 sf to 1,515 sf.

The venture paid $99.7 million, or approximately $148,000 per unit, for 352-unit Sorrel Philips Creek Ranch in Frisco and 322-unit The Sovereign Apartments in Fort Worth. 

CoStar Group
Dallas-Fort Worth-Arlington
Multifamily
http://www.costar.com/News/Article/Bluerock-Led-Venture-Scores-Pair-of-Class-A-MF-Communities-in-Frisco-Ft-Worth/176969

​Free is good, no ad is better! See DFW Multifamily Market Research ​for full reports.

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