JV pays $37M for 494-unit Chatham Court and Reflections Apts.JV pays $37M for 494-unit Chatham Court and Reflections Apts.https://www.recenter.tamu.edu/news/newstalk-texas/?Item=132552016-05-31T05:00:00Z2016-05-31T18:00:00Z

​​​​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​.

CoStar Group
Dallas-Fort Worth-Arlington
http://www.costar.com/News/Article/BRT-Realty-Trust-MLG-Capital-Close-on-494-Unit-Apt-Complex-in-Dallas/182129Read more at {Source}

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