DALLAS--CBRE Capital Markets' Investment Properties has brokered the sale of Brandywine Apartments, a 100-unit, value-add multifamily community in Dallas. The buyer was 4710 Lake LLC; the seller, Brandywine Investments LLC.
Chris Deuillet, with CBRE in Dallas, represented the seller.
The 95-percent-occupied property is located at 4710 Lake Ave., east of Parkland Hospital and the Dallas Medical District. With current growth at Parkland Hospital and in Uptown Dallas driving demand for upper-end and workforce-level housing in the area, the complex is one of the last remaining properties in the area that has not received significant upgrades.
“Over the 10 years that the seller owned Brandywine Apartments, the location has become very desirable thanks to expansions at Parkland Hospital and throughout Uptown Dallas,” Deuillet, first vice president with CBRE, told GlobeSt.com. “The local buyer plans to spend approximately $400,000 on capital improvements to make the asset more competitive with other multifamily properties in the area,” said Chris Deuillet, First Vice President at CBRE.
Planned improvements could support increased rental rates and property value; the average rental rate at Brandywine is approximately 23 percent less than the average rental rate of the other five all-bills-paid properties in the immediate area.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- 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
Already have an account? Sign In Now
*May exclude premium content© 2025 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.