DALLAS–Advalurem Group has bought an ownerinterest Bella Madera in Lewisville, TX in anoff-market transaction. An unnamed regional merchant builder soldthe 612-unit, class A apartment community for an undisclosedsum.
Advalurem Group's local partner, Block Real EstateServices, was offered the opportunity after closing on adifferent deal. Value was added to the deal by the assumption of anexisting long-term loan that was restricted from earlyrepayment.
“The off-market nature of the transaction and the requirement toassume the existing loan resulted in a favorable basis, which willgo toward generating compelling risk-adjusted returns,” AdvaluremGroup Principal and Founder, Gabriel Pozo tellsGlobeSt.com
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 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.
