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November 20, 2020 Comments (0) Views: 310 Dallas-Fort Worth, Texas News

East Dallas Apartments Trade as Value-Add

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CBRE arranged the sale of Bella Vista Creek, a 272-unit, Class B multifamily community at 3402 S. Buckner Blvd. in east Dallas. Austin-based GVA Management purchased the property from Canada-based AmeriCan Multifamily Alliance Group.
Chris Deuillet and William Hubbard with CBRE Capital Markets’ Investment Properties in Dallas and Jeff Kunitz and Mike Canori with CBRE Affordable Housing in Seattle represented the seller.
Constructed in 1985 and 1987, Bella Vista Creek features a mix of one- and two-bedroom units and community amenities including a business center, clubhouse, swimming pool and gated access. The buyer has plans for an extensive rehab project.
“We’re seeing the level of interest in larger sized multifamily properties exceed pre-COVID levels as investors can take advantage of spending the money now to see an exponential amount of reward in the future,” said Deuillet, who had sold Bella Vista Creek to AmeriCan.

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