October 29, 2019

Dallas developer RightQuest, in conjunction with partners JTMR LLC and JJR Group Ltd., sold a 416-unit apartment portfolio in south Texas. Institutional Property Advisors represented the seller in the transaction, and JLL was on hand on behalf of the undisclosed out-of-state private buyer.

The portfolio consists of:

• The 144-unit Royal Vista at 5348 S. Sugar Rd., Edinburg; delivered in 2018

• The 128-unit Bella Vista Phase I (delivered in 2014) and 144-unit Bella Vista Phase II (delivered in 2017) on Ruben M. Torres Boulevard, Brownsville

RightQuest developed all three properties.

“The timing of the sale is ideal, as it presents our partnerships with an opportunity to recycle capital into other investments we are currently pursuing,” said RightQuest’s Ryan Harden.

Pictured: Royal Vista, Edinburg, TX

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Tags: Apartments & Multifamily, Development, Sale