PLANO, TX-CBRE's Dallas Multi-Housing Group has completed the sale of The Encore, a 196,664 square-foot luxury apartment community located in Plano, near Legacy Business Park.
Charles Cirar, Ryan Reid and Jeremy Faltys with CBRE represented the seller, Zale/Corson Group. Terms of the deal were not disclosed.
“The sale of this community provided an investor a rare opportunity to acquire a state-of-the-art, mid-rise community in Dallas' most affluent neighborhood adjoining Legacy Business Park and North Plano,” said Reid, an executive vice president of CBRE.
The 240-unit, class A residential property was developed in 2012 by the Zale/Corson Group and was 95% leased at the time of sale.
It offers one- and two-bedroom floor plans, ranging in size from 668 to 1,170 square feet. Property amenities include a clubhouse with a business center, Wi-Fi and lounge, a resort-style swimming pool, and a fitness studio open 24 hours.
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