Florida investor takes two North Texas apartment communities
Purchase was financed with $55.1 million in funding from Freddie Mac.
The Residences at Northgate apartments are in Irving.(Berkadia )
A Florida-based investor has acquired two Dallas-area rental communities.
Eagle Property Capital of Miami bought the Residences at Northgate in Irving and Arbor Creek apartments in Lewisville.
The purchases were financed with $55.1 million in loans arranged by commercial property firm Berkadia.
The Residences at Northgate is a 320-unit rental community at 4310 W. Northgate Drive in Irving. Arbor Creek is a 280-unit apartment property at 396 E. Southwest Pkwy. in Lewisville.
Berkadia arranged the purchase funding with mortgage provider Freddie Mac.
Dan Whelan
Preston-based developer Providence Gate Group Holdings has lodged plans to create a 208,000 sq ft business park as part of the mixed-use redevelopment of the former vehicle testing facility.
The scheme, to be known as Titan Business Park, is the latest application to come forward as part of the overhaul of the 120-acre site owned by developer Property Capital, and would occupy a 14-acre plot to the north.
As well as the business park, which would feature a mix of offices and industrial units ranging from 750 sq ft to 40,000 sq ft, plans for the wider redevelopment of the Leyland Motors test track include up to 950 homes.