DALLAS—Add Dallas to the two East Coast gateway cities whereInstrata Lifestyle Residences has a presence. The portfolio ofamenity-rich rental properties now includes Instrata at the AshtonUptown, joining a quartet of buildings in New York City and one inthe Washington, DC suburb of Arlington, VA.

“The Instrata brand represents a superior level of design andquality augmented by a multitude of high-end amenities andservices, including custom-tailored community-building events,”says Rob Neiffer, director at Invesco Real Estate, the sponsorof Instrata Lifestyle Residences. “We invite the premier rentalbuildings in key markets to join our portfolio as we expandnationally, and we are thrilled to welcome the Ashton Uptown intoour growing family.”

Invesco has in fact owned the 267-unit, class A apartmentcommunity at 2215 Cedar Springs Rd. in Dallas' Uptown submarketsince the fall of 2013, industry data show. The purchase price toacquire the property from Sentinel Real Estate, which paid $103million for it in 2006, was not available; however, an industryreport says that an Invesco affiliate refinanced the Ashton for$300 million this past January through Prudential MultifamilyMortgage.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.