CBRE’s Dallas Multi-Housing Group has sold Cross Creek at Grapevine Ranch, a 356,594-square-foot multifamily property in Grapevine.
Dirk Goris and Ryan Reid, executive vice presidents with CBRE and Jeremy Faltys with CBRE Dallas, represented the seller, an affiliate of Irvine, Calif.-based Granite Investment Group. Dallas-based CAF Capital Partners purchased the property for an undisclosed sum. The 392-unit property is 95 percent leased. It offers seven one- and two-bedroom floor plans, ranging in size from 750 to 1,163 square feet. Property amenities include a private theater, fitness center with indoor basketball court, two-story parking garage with boat parking, and a dog park.
“The property offered a strong value-add opportunity in a high barrier to entry submarket,” said Goris. Cross Creek is adjacent to Grapevine Mills Mall. – Robert Francis