October 13, 2016
Realsource Properties LLC, headquartered in Salt Lake City, UT, acquired the 296-unit Creekside on the Green in Garland, TX. COTG Partners LP of Rancho Santa Fe, CA sold the asset at an undisclosed price. The Dallas Central Appraisal District assessed the property at $13 million.
Chris Deullet with CBRE represented the seller.
Creekside on the Green, at 1702 N. Jupiter Rd., has undergone upgrades in the fitness and business centers, leasing office and dog park since 2012. Also renovated were the outdoor pools and unit interiors. A new commercial grade playground and roofing were also added.
“A scarcity of multifamily assets for sale in the Garland/Richardson submarket, combined with Creekside on the Green’s location in an area with limited multifamily competition, attracted significant interest from both national and international investors,” Deuillet said.
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