Grand Prairie Apartments Just Closed
160 Townhome Units in Grand Prairie Sold as Prime Multifamily
Tax Credit Affordable Housing Opportunity
DALLAS, May 3, 2019 – Colliers International Group Inc., (NASDAQ: CIGI) (TSX: CIGI) a top tier global real estate services and investment management company with more than 14,000 skilled professionals operating in 68 countries, announced the sale of Prairie Estates Town Homes, a 160 townhome units, tax credit community in Grand Prairie, Texas and Part One of a Two Property Portfolio.
“Demand remains palpable for quality multifamily assets throughout North Texas. Robust capital continues to migrate from all corners of the world” says Mark Allen, CCIM,senior vice president in the Multifamily Services Group for Colliers International’s Dallas office.
Mark Allen, CCIM and John Nguyen represented the seller, a, a privately held Limited Partnership company in Duncanville, Texas.
“We collaborated with our National Affordable Housing Group within Colliers, led by John Nguyen, to create a shared vision,” says Mark Allen, CCIM. Colliers North Texas multifamily services team generated leads providing numerous tours and receiving multiple prompt offers. The group’s activity spurred an impressive $300,000 non-refundable earnest money that was released on the first day and achieved 100-% of the asking price from a Seattle, Washington Limited Liability Corporation.
The two-story, 209,912 square foot property consists of 26 buildings and sits on 17.10 acres. Built in 1999, Prairie Estates Town Homes is an affordable, class B property. Located equidistant between Dallas and Fort Worthon Interstate 30, Prairie Estates provides residents quick and convenient access to all points of the metroplex including numerous major employers, exceptional schools, major retail centers and diverse entertainment options.