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Wednesday, November 25, 2020
Real Estate Apartment property in Grapevine sold
Real Estate Apartment property in Grapevine sold

Apartment property in Grapevine sold

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

 

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  


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