Dallas, Texas – The NNN Commercial Real Estate news today is regarding investment groups who chose to buy Apartment Buildings. Many of our commercial real estate investors are in favor of Apartment Building investments and triple net lease properties. The news today is on a (JV) joint venture with AREA Property Partners and Wood Partners. AREA Property Partners in a joint venture with Wood Partners purchased an apartment building complex portfolio in Texas.
These Commercial Real Estate Investments consist of a total of nine properties and 2,589 units. The apartment building complexes were scattered across Texas with Five properties situated in the Dallas – Fort Worth area. The Commercial Real Estate transaction also has three apartment buildings in Houston and one apartment complex in San Antonio, Texas. At this time the purchase price was not released so we will try an obtain it at a latter day. Also, there was no information on whether these commercial properties were in a 1031 Exchange.
This Commercial Real Estate Investment Portfolio totals 2,589 residences in the three major Texas cities. This Commercial Real Estate Investment Portfolio consists of apartment buildings that were developed between 1997 and 2007. The Commercial Real Estate Investment portfolio’s average occupancy level is currently 96%. The Commercial Real Estate Investment Portfolio Units are exceptionally well maintained and almost no upgrades or repairs are needed. Texas has become a model upon which more states should base their own governing ideas. As many states are having high unemployment and financial problems. Texas is growing in population, growing in jobs, and rapidly expanding in small business growth. Obviously all reasons for making NNN Commercial Real Estate Investments become more secure.
The Dallas Apartment Buildings were the Mansions at Stonebridge, Mansions by the Lake, Mansions by the Vineyard, Villas on the Green and Estates at North Richland Hills. The Dallas Apartment Building Investments were developed and sold by Coppell-based Western Rim Property Services. The Apartment Building complexes offer studio apartments and up to four-bedroom apartments with an average apartment size of more than 1,100 square-feet. Some Commercial Loans for apartments are Non Recourse Loans.
These Apartment Buildings in the Investment Property Portfolio were designed with exceptional amenities. Some of the Apartment Building amenities include locations that are a closes proximity to golf courses, large clubhouses with state-of-the-art gyms, resort-style pools, business centers and convenient concierge services. Some of these Apartment Buildings lie within master-planned signature golf communities such as Stonebridge Ranch. Many of the apartments come with an attached one- or two-car garage. These fine Apartment Units have luxurious Interior finishes and appointments including cherry wood cabinets, granite countertops, stainless steel appliances, hardwood floors and porcelain tile in kitchens and bathrooms.
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