JV pays $37M for 494-unit Chatham Court and Reflections Apts.

​​​​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​.