DALLAS–MIG Real Estate, a real estateinvestment company based in Newport Beach, Calif., has completedits first transaction in the Dallas area, recently acquiringElan City Centre, a 330-unit, class A multifamilycommunity in North Dallas.

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“The purchase of Elan City Centre continues MIG Real Estate'sstrategy of investing in high quality assets in markets expected tooutperform in terms of population and job growth,” MarcVenegas, director of multifamily investments at MIG RealEstate, told GlobeSt.com.

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Elan City Centre is located at 13301 Galleria Place, with accessto Interstate 635, the Dallas North Tollway, President George BushTurnpike and US Highway 75. The property is situated at theconvergence of two office markets: The Platinum Corridor and theLBJ Freeway Office Corridor, where employers includeAmazon, Toyota,FedEx and Coca-ColaEnterprises.

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The multifamily community is within walking distance ofshopping, dining and entertainment venues within the nearbyGalleria Mall. The neighboring Valley ViewCenter, currently undergoing a major redevelopment, willprovide a variety of additional venues.

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“In acquiring this property, MIG Real Estate recognized ElanCity Centre's strategic location in a thriving job center and itsmodern design characteristics which are appealing to youngprofessionals,” says Greg Merage, CEO of MIGReal Estate.

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Elan City Centre consists of four three-story buildings withone- and two-bedroom floor plans, 12 townhome units and a two-storyparking structure. Units feature granite countertops, washers anddryers, and oversized soaking tubs. Select units offer attachedgarages, walk-in closets and balconies. Common amenities include asaltwater pool, outdoor Zen lounge, club lounge and 24-hourathletic club, as well as a gaming and media center.

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Elan City Centre is the company's sixth investment in Texasmultifamily properties. Prior to MIG Real Estate's purchase of ElanCity Centre, the company's most recent multifamily acquisition wasThe Marquis at Roger's Ranch, a 246-unit apartmenthome community in San Antonio.

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Ryan Reid of CBRE representedthe seller in the transaction. Greystar willmanage the property for MIG Real Estate.

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