LOS ANGELES, CA - Banyan Residential, an LA-based private real estate investment company, has announced the groundbreaking of Banyan Beckley, a 279-unit luxury multifamily community in Dallas, Texas. This development marks Banyan’s first foray into the Dallas market, and growing presence in Texas following the acquisition of a multifamily property in downtown Houston last year. The new five-story community, which is being developed in collaboration with Banyan’s partners at Milhaus, will be a welcomed addition to the popular Bishop Arts District neighborhood. The team secured a $38.2 million construction loan from Hillcrest Bank earlier this month.
Located at 1710 N Beckley Avenue, the project is in close proximity to one of Dallas’ most walkable neighborhoods in Bishop Arts – offering more than 60 locally-owned boutiques, restaurants, bars, coffee shops, and art galleries – and is a short drive to downtown Dallas.