Jordan Creek Apartments, Arlington, TX

February 24, 2020 Comments Off on 240-Unit Jordan Creek Apartments Changes Hands in Value-Add Play Views: 343 Dallas-Fort Worth, Texas News

240-Unit Jordan Creek Apartments Changes Hands in Value-Add Play

Ashland Greene Capital Partners LLC shook hands with a California seller for ownership rights to Jordan Creek Apartments, a 240-unit apartment complex in Arlington, TX. The New York buyer snagged the property at 2502 Burney Oaks Ln. as a value-add play.

Taylor Snoddy, James Roberts and Philip Weigand with NorthMarq Capital negotiated the buy between buyer and seller. NorthMarq’s Stephen Whitehead, William Hancock and Lauren Bresky secured a three-year, interest-only acquisition loan for the asset.

“The transaction was a win-win for both buyer and seller,” Roberts said. “Jordan Creek is a great example of a true Class B value add opportunity. The buyer is planning an expansive renovation to the asset to better compete in the submarket. The seller successfully implemented their business plan and is currently in a 1031 exchange.”

The property delivered in 1984, with one and two-unit floor plans. Property amenities include a barbecue/picnic area, swimming pool, sports court, clubhouse and fitness center.

Connect With NorthMarq

Connect With Ashland Greene Capital Partners


Get CRE News in 150 words

For comments, questions or concerns, please contact Amy Sorter

Tags: , ,

Order Reprints...

Comments are closed.

Send this to a friend