Richardson, Dallas multifamily property portfolio sold
DALLAS – The LH3 Portfolio, a three-property multifamily portfolio totaling 966 units, has been sold.
The properties are:
Belterra, a 314-unit asset at 13015 Audelia Rd. in Richardson with an average unit size of 584 sf;
Estancia, a 220-unit asset at 13030 Audelia Rd. in Richardson with an average unit size of 934 sf; and
Solaris, a 432-unit asset at 11515 Leisure Dr. in Dallas’ Lake Highlands neighborhood with an average unit size of 762 sf.
The Richardson properties were built adjacent to each other in 1981 and 1984. Solaris was delivered in 1983.
Combined amenities include two pools, four on-site laundry facilities, reserved covered parking, two outdoor kitchens, a business center, resident lounge, and community garden.
Institutional Property Advisors represented the seller, The ValCap Group, and procured the buyer, Tides Equities.
The Texas Real Estate Research Center has more multifamily news online for free:
Source: Institutional Property Advisors
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