$42M takes McKinney's The Avenues at Craig Ranch$42M takes McKinney's The Avenues at Craig Ranchhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=45922014-03-24T09:34:00Z2014-03-24T08:00:00Z

McKINNEY - The Avenues at Craig Ranch, a newly constructed 334-unit apartment community, has been sold for approximately $42.4 million dollars to Trade Street Residential (TSRE).

The Class A complex offers one-, two- and three-bedroom units that range from 667 sf to 1,583 sf at 8700 Stacy Rd. One- and two-car garages are also offered on some units.

Florida-based TSRE obtained a mortgage of $21.2 million and used a portion of the cash received from its recently closed rights offering to fund the purchase price. See TSRE's San Antonio Terrace at River Oaks sold for $22.5M.

Read more at GlobeNewswire.

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