DALLAS - The 600-unit Mandalay Palms at 7501 Chesterfield Drive has been sold.
The 489,912-sf Mandalay Palms was built in 1985 on more than 25 acres with access to I-20 and US 67. It offers one-and two-bedroom units ranging from 504 sf to 1,056 sf. Rent varies from $395 to $855.
Apartments feature vaulted ceilings, walk-in closets, patios or balconies and fully equipped kitchens with pantries. Most units also have washer and dryer connections.
Cap rate was 7.50 percent.
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