Grand Prairie: 264K-SF Terraces on the Parkway sell

​​GRAND PRAIRIE – CBRE Capital Markets’ Investment Properties announced the sale of Terraces on the Parkway, a 297-unit multifamily community in Grand Prairie.

The 263,555-sf asset, located at 1109 North Carrier Pkwy. was built in 1972.

The complex is comprised of 20, two-story residential buildings and offers efficiency, one-, two- and three-bedroom options. It was 97 percent occupied at closing.

Since 2013, the seller has invested in a multitude of capital improvements, including interior and exterior updates, energy-saving measures and new amenities.

Tenants now have access to two, resort-style swimming pools with custom outdoor kitchens, a new fitness center, an updated resident center, an oversized dog park and a soccer field, among others.

The forward-thinking ownership also installed a variety of energy efficiency measures, including solar PV energy systems, two water wells used for irrigation, and hot water-saving devices in every unit.