DALLAS - The 148-unit Mapleshade Park near Hillcrest Rd. and President George Bush Turnpike has been sold for $23.3 million. The Class A units at Mapleshade Park range from 1,101 sf to 1,305 sf and in rent from $1,470 to $1,735 per month.
The property was 96 percent occupied at the time of sale.
California-based Steadfast Income REIT Inc. purchased the property, pushing its Dallas-Fort Worth portfolio to seven properties. The firm now owns 24 properties across Texas.
The sale, which included one other property in Tennessee, totaled $42 million.
Our twice-weekly e-newsletter provides a quick overview of Texas real estate markets. Because your time is valuable.