DALLAS – Berkshire Property Holdings has acquired a two-property, 568-unit apartment portfolio from a local investor for $56.8 million.
The properties include The Parks at Walnut and Ninety Nine 44 at 10000 and 9944 Walnut St.
Florida-based Berkshire will undertake a multi-million-dollar renovation program.
The buyer leveraged the acquisition with ten-year agency financing from Freddie Mac, which was arranged by CBRE.
Berkadia represented both parties in the transaction.
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Source: Connect Media