Greysteel, a national commercial real estate investment services firm, has arranged the Sale & Acquisition Financing of Greens of Hickory Trail, a 250-unit multifamily property located in Dallas, TX.
Greysteel’s Senior Managing Director Doug Banerjee, Senior Director Jack Stone, and Director Andrew Mueller, who are all based in the company’s Dallas and Fort Worth offices, negotiated the transaction along with the Capital Market’s Senior Managing Director Daniel Hartnett and Managing Director Fisher Wells.
Built in 2000, Greens of Hickory Trail is a 250-unit multifamily property located at 8613 Old Hickory Trail, Dallas, Texas. The property consists of all two and three-bed options varying from two-story townhome to single-level ranch style floor plans averaging 1,200 SF and is located in the heart of the Dallas-Fort Worth Metroplex, the economic powerhouse and cultural hub of North Texas. Residents have easy- accessibility to Dallas-Fort Worth Metroplex with US-67 and Interstate 20 (Lyndon B. Johnson Freeway) intersection being less than a mile away. Sam’s Club, Methodist Charlton Medical Center, and several popular chain restaurants surround the neighborhood. Downtown Dallas is only a 13-mile drive as well providing access to thousands of jobs.
“Greens of Hickory Trail is a well-maintained asset with significant revenue upside now that the LURA restrictions completely burnt off in November 2021 after a three-year decontrol period. New ownership plans to continue the value-add program that was implemented by the previous owner as well as make some additional enhancements to the units that have recently been upgraded.” Said Greysteel’s Senior Managing Director Doug Banerjee.
About Greysteel:
Greysteel is a leading commercial real estate and capital markets services firm with 17 offices located in New York, NY; Los Angeles, CA; Dallas, TX; Fort Worth, TX; Houston, TX; Washington, D.C.; Philadelphia, PA; Phoenix, AZ; Denver, CO; Baltimore, MD; Charlotte, NC; San Antonio, TX; Austin, TX; Norfolk, VA; Oklahoma City, OK; New Orleans, LA; and Newport Beach, CA. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital, middle-market, and institutional real estate assets. www.greysteel.com
