MANSFIELD, TX-Rising interest rates and increasing competitionfor class A multifamily product didn't impedeAdvenir's most recent acquisition in theDallas-Fort Worth submarket. The Florida buyer now owns the334-unit Dolce Living at Mansfield (renamed Advenir@Mansfield),though chief acquisition officer Todd Lindenacknowledges there were some tense moments throughout theescrow.

"The interest rates moved during the middle of the deal, whichmade it challenging," he tells GlobeSt.com."They're still low, but they moved about 80 basis points betweenthe executed LOI and when we actually locked in the rate."

Advenir did successfully acquire the property at 370 N. SH 360from Russ Krivoruchko, whose company developed therecently completed complex. Advenir represented itself in theproperty acquisition, and financing was secured by Braden Harmon ofBerkeley Point Capital. WillBalthrope and Drew Kile withInstitutional Property Advisors represented theseller.

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