Invesco grabs 1,700 apartments at Plano's Legacy Town CenterInvesco grabs 1,700 apartments at Plano's Legacy Town Centerhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=18042015-02-06T12:24:00Z2015-02-06T00:00:00Z

PLANO - Investors have made one of the largest buys ever of high-end North Texas apartments.

Almost 1,700 apartments in the Legacy Town Center development in West Plano have been purchased by Invesco Real Estate.

The apartments, east of the Dallas North Tollway and north of Legacy Dr., were sold by a partnership of builder Columbus Realty and GE Asset Management.

Built between 2007 and 2012, the apartments are just north of the popular Shops at Legacy retail and restaurant project.

“We have made a strategic play, and despite all the activity announced in Frisco, we believe Legacy is the bull’s-eye and where we wanted to focus,” said Invesco Managing Director Greg Kraus.

Invesco is also a partner with Columbus Realty and Karahan Cos. in the development of the new Legacy West urban village, which has more than 600 apartments, a shopping center and office space. Construction starts this week on the $300 million development at the northwest corner of the tollway and Legacy Dr.

tag: CBRE Multifamily 3Q 2014 MarketView, DFW Market Data Sources, see the Multifamily category

Dallas Morning News
Dallas-Fort Worth-Arlington
http://www.dallasnews.com/business/commercial-real-estate/headlines/20150204-invesco-makes-big-apartment-buy-in-west-planos-legacy-town-center.eceRead more at {Source}

 Search NewsTalk Texas