IRVING, Tex.--Berkadia has announced the recentsales of two Texas multifamily properties. Partners TomBurns and Jay Gunn of the Dallas officenegotiated the sale of Burn Brae, located at 4200W. Northgate Drive in Irving. Northgate InvestorsLLC of Avon, Conn., purchased the asset from TheChancellor LLC of Las Vegas. Burns and Gunn, as well assenior associate Bill King, also brokered the saleof Meadows Point, located at 800 Marion Pugh Drivein College Station.

“The buyer of Burn Brae was attracted to the repositioningpotential of the asset due to its proximity to Las Colinas,President George Bush Turnpike and Dallas/Fort Worth InternationalAirport,” Burns told “The property neededrepositioning and was well located in a submarket with comparableassets fetching as much as 25 percent more in rent, offeringsignificant upside to the new owner once the units areimproved.”

Burn Brae, a 282-unit property built in 1983, features one- andtwo-bedroom floor plans and includes unit amenities such asfireplaces, ceiling fans and access to Internet and cable, as wellas balconies or patios. Community amenities include a swimmingpool, spa, fitness center and extra storage space. The property islocated near state highways 161 and 183.

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