September 11, 2018
Saxony Capital Management is the new owner of Salado Apartments, a 317-unit, Class B apartment complex in Tyler, TX. The Dallas-based buyer shook hands with LTX Ltd., also located in Dallas, for the property at 6003 Bullard Rd.
JLL’s Mark Brandenburg led the financing and equity capital raise efforts for the property, which delivered in 1977. Freddie Mac provided the loan, while Paravest Capital was the equity joint venture partner. Brandenburg indicated that, with multifamily investments still strong, and due to continued population increases in Texas, Saxony should “have tremendous success repositioning this apartment community with their joint venture partner.”
Situated on 15.3 acres, Salado Apartments offers studios, as well as one, two and three-bedroom units. On-site amenities include a tennis court and cardio fitness center, two pools, a barbecue/picnic area and resident business center.
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