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Advenir Adds 334-Unit Complex to DFW Collection

MANSFIELD, TX-Despite a nail-biting escrow created by rising interest rates, the Florida buyer closes on Dolce Living, remaned Advenir@Mansfield. Meanwhile, buyer's first complex in the Dallas area – Advenir Town Centre – is under contact.

By Amy Wolff Sorter | Updated on July 26, 2013

MANSFIELD, TX-Rising interest rates and increasing competition for class A multifamily product didn’t impede Advenir’s most recent acquisition in the Dallas-Fort Worth submarket. The Florida buyer now owns the 334-unit Dolce Living at Mansfield (renamed Advenir@Mansfield), though chief acquisition officer Todd Linden acknowledges there were some tense moments throughout the escrow.

“The interest rates moved during the middle of the deal, which made it challenging,” he tells GlobeSt.com. “They’re still low, but they moved about 80 basis points between the executed LOI and when we actually locked in the rate.”

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