DALLAS - BRT Realty Trust and MLG Capital acquired the 494-unit Chatham Court and Reflections Apts. at 7815-7825 McCallum Blvd. in Dallas from Cottonwood Residential for $37.3 million, or $76,000 per unit.
The venture secured a $27.9 million loan from Berkadia Commercial Mortgage to finance the purchase.
The garden-style apartment complex delivered in 1985 on nearly 22 acres in the Far North Dallas Multifamily submarket.
It consists of one- and two-bedroom floor plans with on-site amenities that include a clubhouse, pool, fitness center and tennis court.
Dirk Goris of CBRE represented the seller in the transaction.
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