DALLAS-Learning Links Centers LLC and ESmith Legacy Inc. have formed a joint venture to acquire more than $250 million of workforce housing properties in major US markets.
ESmith Legacy, which was founded by former NFL star running back Emmitt Smith and other real estate professionals, will contribute $50 million in capital to the joint venture. Learning Links Centers will serve as the operating partner.
The funds will be deployed over a two to three-year period, according to Learning Links Centers co-founders Joe Killinger. The partnership has already put in escrow a 326-unit apartment community located in the Lake Highlands submarket.
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