DALLAS – Madera Residential of Lubbock has purchased a Victory Park high-rise apartment building.
Cirque has 252 units across 26 stories. It is 95 percent leased with an average monthly rent of $3,000.
New York-based I&G Direct Real Estate was the seller. MetLife Commercial Mortgage financed it with $62.4 million. The tower was marketed for sale by JLL.
Madera Residential owns three dozen apartment communities valued at $2 billion.