PLANO - JRK Property Holdings has acquired the 181-unit Heritage at Lakeside, located at 5900 Baywater Dr. The Los Angeles buyer beat out multiple other offers for the complex.
Built in 2001, the Class A complex had been owned by tenant-in-common investors that struggled in the aftermath of the financial meltdown. In doing so, Everest Realty co-invested approximately $1.6 million in capital, which staved off foreclosure.
The Collin County Appraisal District assessed the property at approximately $22.2 million.
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