News
MULTIFAMILY DEAL SHEET
August 15, 2011
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| The Canyon-Johnson Urban Funds purchased The Dylan, a 125-unit Class-A complex on Cedar Springs Drive adjacent to the Dallas North Tollway. The Class-A project, completed in 2009, was originally built as for-sale condos. Canyon-Johnson, a JV between Canyon Capital Realty Advisors and an affiliate of Magic Johnson Enterprises, plans improvements for the 90 flats and 35 townhomes. Canyon-Johnson and its JV equity partner Venterra Realty also bought Signature Ridge, a 612-unit, Class-A multi-housing community in San Antonio. HFF secured a fixed-rate loan through PPM Finance for the property, which was completed in 2003. The infill property is on 27 acres at 3711 Medical Dr. The HFF team that represented the JV was led by director Cortney Cole. *** |
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| A private capital investor from Dallas purchased the 164-unit Wellington Place at 9940 Forest Ln in Dallas from LBUBS 2007-C2 Forest Lane, a Texas LLC from Miami Beach. The transaction was negotiated by Peter Hartnett of the Dallas office of Hendricks & Partners for the seller. |
