FARMERS BRANCH, TX—During the market stall of COVID, the Dallas/Fort Worth market fared slightly better than the nation in terms of rents and employment. This is leading many companies to take a good hard look at the region for acquisition opportunities.
Aspen at Mercer Crossing is Excelsa US Real Estate I LP's latest acquisition, representing its sixth multifamily property buy. The 260-unit multifamily community is located at 1851 Knightsbridge Rd.
Excelsa provided 100% of the equity of the transaction, which represents the firm's first core/core-plus acquisition of a newly constructed class-A multifamily property, first Dallas MSA acquisition and first Green Globes-certified acquisition. The firm raised an $85.6 million closed-end fund to acquire $500 million in US multifamily properties.
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© 2024 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.
Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
