Dallas, TX (April 21, 2022) — Newmark announces the sale of a 264-unit, luxury

multifamily community, Ashford, located in suburban Dallas. The townhome-style property traded from Pegasus Real Estate, a private commercial real estate investment firm, to an undisclosed buyer. Newmark Vice Chairman Brian Murphy, Executive Managing Director Brian O’Boyle, Jr. and Senior Managing Directors Richard Furr and Jakob Andersen facilitated the transaction.

“As the top U.S. multifamily investment market in 2021 in terms of transaction volume*, Dallas continues to perform exceptionally well, as we wrap the first quarter of the year,” said Murphy. “With amenity-rich properties continuing to attract investor demand, Ashford was highly sought after—we are thrilled with the successful transaction for all parties.”

Built in 1995, Ashford features a mix of large one- and two-bedroom units with an average unit size of 985 square feet. Units feature garages, nine-foot ceilings, faux wood flooring, fireplaces, spacious closets, and balconies or patios with storage. Community amenities include a community center with fireplace, kitchen and outdoor seating; pool with lounge area, barbeque grills and covered pergola with seating; fitness center; dog park and outdoor lounge area with fireplace.

“We were originally attracted to this property because of its low-density two-story buildings with attached garages, brick carports and beautiful water features,” said Jonas Levy, Managing Partner of Pegasus Real Estate. “We think these unique features and the property’s central location and high-quality demographics will allow the buyer to continue the positive momentum at the property.”

“We are proud to have executed on our business plan to improve this asset and realize substantial value for our investors,” added Justin Laub, Managing Partner of Pegasus Real Estate. “Newmark did an excellent job finding a buyer who is a great fit for this property.”

Located at 2116 Marsh Lane in Carrollton, Texas, the property is within a 30-minute commute to prime employment centers featuring 3.3 million jobs. Major employers in the area include Toyota, FedEx Office, JPMorgan Chase, Liberty Mutual, Mary Kay and United Surgical Partners. Residents have access to numerous shopping and entertainment amenities at the nearby Shops at Willow Bend, Galleria Dallas, Marsh Lane Golf Center, Bent Tree Country Club and Preston Trail Golf Club.

Multifamily rent growth was historically strong in 2021, according to Newmark Research, as asset owners were able to raise rents well above pre-pandemic levels. Annualized effective rent growth for the U.S. averaged 6.8% in 2021, with Sunbelt markets such as Dallas outperforming with a 16.5% growth rate over the year.

*According to Newmark Research’s 4Q21 United States Multifamily Capital Markets Report

Press Contact: Lizzy Mahan t 303-260-4437 lizzy.mahan@nmrk.com

Newmark announces the sale of Essence and Allure, a two-property, 712-unit multifamily portfolio in Dallas, Texas. The portfolio traded from Archway Equities—a privately held real estate investment group based in Beverly Hills, California—to Bridge Investment Group, a publicly traded real estate investment and property management firm with offices across the U.S. Newmark’s Richard Furr,  Brian Murphy, Brian O’Boyle, Jr. and Jakob Andersen represented both the seller and the buyer in the transaction.

Essence is a 348-unit, garden-style apartment community located at 4200 Horizon North Parkway in Dallas. Built in 1996, the property comprises a leasing center/clubhouse and 14 residential buildings featuring a mix of one- and two-bedroom units with an average unit size of 869 square feet. Community amenities include clubhouse, full kitchen, game area, lounge area with fireplace, indoor basketball court, business center, fitness center, pool, hot tub, covered cabana seating, outdoor table tennis, sand volleyball court, gas grills, dog park, jogging trail and 1.5-acre pond.

Allure is a 364-unit, garden-style apartment community located at 4300 Horizon North Parkway in Dallas. The property was built in 1998 and comprises a leasing center/clubhouse and 16 residential buildings featuring a mix of one- and two-bedroom units with an average unit size of 850 square feet. Community amenities include clubhouse, full kitchen, game area, indoor sports court, business center, fitness center, pool, hot tub, covered courtyard with outdoor fireplace, outdoor table tennis, sand volleyball court, gas grills, dog park and optional covered parking, boat parking, breezeway garages, detached garages and outdoor storage units.

The properties offer an ideal location at the northwest corner of Dallas North Tollway and George Bush Turnpike. The area is surrounded by numerous demand drivers and amenities at the nearby Platinum Corridor, International Business Park, Cityline, The Shops at Willow Bend, The Realm at Castle Hills, The Telecom Corridor, 190 Corridor, Heritage Creekside, Legacy West, Hall Office Park and Legacy and Granite Business Parks. Major employers in the area include DFW International Airport, American Airlines, JP Morgan Chase Bank, Parkland Health & Hospital System and Baylor Medical Center.

Multifamily rent growth was historically strong in 2021, according to Newmark Research, as asset owners were able to raise rents well above pre-pandemic levels. Annualized effective rent growth for the U.S. averaged 6.8% in 2021, with Sunbelt markets such as Dallas outperforming with a 16.5% growth rate over the year. Dallas remained the top U.S. multifamily investment market with $27.9 billion in transaction volume for the 12 months ending in the fourth quarter of 2021. This marks the sixth consecutive year Dallas has been the most liquid multifamily market.

Lonestar Medical Services, PLLC leased 2,595 square feet at 8111 LBJ fwy in Dallas, TX. Brent St. Amant represented the landlord, Hartman Income REIT. 

JLL Capital Markets announced today that it has closed the sale of and arranged acquisition financing for Watters Creek at Montgomery Farm, a 458,091-square-foot, premier, open-air, mixed-use, grocery-anchored retail and office destination part of the Watters Creek development within the Dallas-Fort Worth community of Allen, Texas.

JLL marketed the property on behalf of the seller, a partnership between PCCP, LLC and Trademark Property Company. A partnership comprising Dallas-based Charter Holdings and DuWest Realty acquired the asset. Additionally, working on behalf of the new owner, JLL secured the five-year, floating-rate, non-recourse acquisition loan with Washington Federal Bank and Texas Capital Bank.

Completed in 2008, the 46-acre Watters Creek at Montgomery Farms is in the top 4% of shopping centers in DFW and is part of Waters Creek, an iconic, 1.1-million-square-foot live-work-play district that houses multi-housing units, office, 300 hotel rooms and convention center space within walking distance of the property. The subject property is 87% leased and home to 61 retail tenants, including Market Street in DFW and Michaels within 15 miles and the No. 2 performing PF Chang’s and Victoria’s Secret in DFW, along with a popular MiCocina, Sephora, pure barre, Kendra Scott, Bath and Body Works, Massage Heights, The Blue Fish, Panera Bread, F45, Anthropologie and The Cheesecake Factory.

Three of the property’s 20 buildings contain 98,209 square feet of office space with tenants such as Regus, Mattison Avenue Salon Suites & Spa and TNP. Additionally, 1.75 acres of land could be used for future development and expansion of the property.

Watters Creek at Montgomery Farms is at 970 Garden Park Dr. in the northern DFW suburb of Allen. The area within a five-mile radius has seen 150% growth since 2001, and the expansive trade area includes $12.3 billion of buying power. The property has excellent visibility from its position along 75, a large regional north-south thoroughfare, and is surrounded by new development.

The JLL Retail Capital Markets team representing the seller was led by Senior Managing Director and Co-Head of U.S. Retail Capital Markets Barry Brown, Senior Managing Directors Chris Gerard and Ryan Shore and Analysts Greyson Fewin and Pauli Kerr.

The JLL Capital Markets Debt Advisory team included Senior Managing Director John Brownlee, Managing Director Clint Coe and Analysts Jack Rohrman and Chad Lisbeth.

Next Wave Investors has acquired Casa Luna Apartments, a 232-unit apartment community in Dallas, Texas. This purchase brings the firm’s multifamily portfolio in the Dallas-Fort Worth metroplex to more than 300 units.

Next Wave acquired the property after recognizing an opportunity to immediately stabilize the asset through intense capital improvements and to leverage the strength of the high-growth Dallas market to maximize rent potential, according to Next Wave Principal Jordan Fisher.

“Dallas is one of the strongest markets in the United States, with a population that is growing by approximately 120,000 people per year,” says Fisher. “In fact, Dallas-Fort Worth had the largest population gains of any U.S. metro area from July 2020 to July 2021, according to Census Bureau Data. This increased population is largely fueled by the area’s continued economic and employment growth, which in turn has created a strong demand for quality housing.”

Fisher adds that the property, which was built in 1969, presents an opportunity to not only benefit from the upward pressure on rents in the market but to create value through extensive strategic renovations.

Next Wave plans to make significant capital improvements to transform and modernize the asset. Improvements will include renovating all units, enhancing the landscaping, addressing all roofing-related deferred maintenance, adding new paint to all exterior surfaces, and enhancing the antiquated boiler/chiller system.

Located just 10 minutes from downtown Dallas, the property offers residents with quick access to an abundance of employment, dining, entertainment, and retail offerings. Nearby shopping centers include The Shops at Park Lane, Walmart Neighborhood Center and El Rancho Supermercado.

Casa Luna Apartments is located at 8411 La Prada Dr E in Dallas, Texas.

Triten Real Estate Partners celebrates the grounbreaking of Assembly Park, a modern, outdoor-friendly, mixed-use environment in East Plano

Dallas, Texas | April 14, 2022– The creation of the “Gateway to Plano” and the continuation of the City of Plano’s Envision Oak Point plan is spearheaded today as Triten Real Estate Partners officially break ground and start the transformation of the dated Market Square Mall, located in East Plano, into the highly anticipated Assembly Park.

Triten, known for their large-scale, adaptive reuse, and mixed-use projects in Houston and Dallas, purchased the property in January 2021 after a lengthy selection process. It was integral to the City of Plano and the original owner to sell to a group that planned to enhance and revitalize the area and become a part of the existing community. The strategy behind Triten’s reimagination at Assembly Park is to create a vibrant, mixed-use destination centered around collaboration and living a healthy lifestyle. The existing site will be transformed into 180,000 square feet of Class A creative office space, 16,500 square feet of retail and dining space, and over 300 lofty flats and townhomes, all surrounding a large, newly planted central park consisting of event space, kid-friendly play areas, and a dedicated dog park. The property’s location near I-75 and proximity to Legacy Central is ideal for large corporations and employers. The surrounding dense residential areas neighboring the property make Assembly Park the next destination of entertainment for the community.

“Triten is excited to deliver a thoughtfully designed, integrated, walkable and vibrant destination for our office users, residents and the community,” says John Hardaway, partner at Triten Real Estate Partners. “Whether you work, dine, exercise, visit or live there, Assembly Park offers something for you. We believe this convergence of activity and green space will appeal to a diverse range of residents and employers who value all the intangibles that Assembly Park offers.”

Assembly Park’s mixed-use nature appeals to companies looking for a home with unique workspaces, on-site amenities, and lifestyle-driven events hosted at the property’s central park. The creative office portion of Assembly Park, designed by Agent Architecture and Michael Hsu Office of Architecture, is the portion of the project reimagined from the existing mall structure. The office space is designed to promote peak collaboration and performance by offering an abundance of common area workspaces and private areas like an interior library and collaboration areas including state-of-the-art technology. In addition, office tenants will have a fully equipped fitness center featuring floor-to-ceiling windows with full park views. Overhead doors will let fresh air in during workouts, and weekly outdoor fitness classes will be available to tenants and visitors at the park. Nathan Durham and Duane Henley with Newmark are leasing the creative office space.

Assembly Park’s unique retail and dining offerings and fresh green parks will keep employees on site after work hours and attract area residents and visitors seeking a hub for family-friendly fun. Located off Spring

Creek Parkway, the property’s main entry will welcome visitors with two ground-up retail opportunities designed by Michael Hsu Office of Architecture. The retail spaces range from 3,400 to 8,620 square feet and are central to the property and feature patios with park views and bike trail access making it the perfect place for watching your children play during lunch or taking in a live concert over drinks with friends. Ryan Smith and Sarah Velten with Northview Co. are leasing the retail space.

“Triten places a high level of detail on each of the mixed-use projects we develop. Continually, we aim to provide a curated experience to those who visit promoting innovation, collaboration, and a healthy lifestyle,” says Scott Arnoldy, founder of Triten Real Estate Partners. “The Mall’s location provided a fantastic opportunity for a reimagination that is central to a large residential base in East Plano. Assembly Park is a great chance for Triten to make a positive change in the community by providing a new and beautifully designed landmark that will offer endless entertainment and outdoor social gathering opportunities.”

A large part of the Triten mixed-use experience is providing exciting and sought-after on-site programming and experiences that are key for community interaction and activation at Assembly Park. Kid-friendly fitness, date-night dance lessons, and evening movie screenings will be in regular rotation once Assembly Park delivers. The on-site multifamily development at Assembly Park will provide all the conveniences that employees and visitors receive but with the luxury of never leaving home. Outlined with newly paved hike and bike trails, and signature green space directly outside your doorstep, Assembly Park delivers an on-site lifestyle second to none. The multifamily portion of the project will be available for lease only and feature Class A finishes, private garages, and a state-of-the-art fitness and pool area.

Assembly Park is scheduled to deliver in late 2023.

Elements that make up Assembly Park:
· 26-acre site
· 180,000 SF of reimagined creative office
· 16,500 SF of newly built retail and dining· 305 multifamily units consisting of flats and townhomes
· Large central park with dedicated areas for entertainment, children, and dogs
· Newly paved hike and bike paths that connect to neighboring residential and the Oak Point Nature Reserve

For more information, visit: www.assemblyparkplano.com