FOR IMMEDIATE RELEASE: GREA Closes Luna Blanca, a Multifamily Property in Dallas, TX.
Dallas, TX October 24, 2022 – GREA, specializing in serving private to institutional multifamily real estate investors, announces the sale of Luna Blanca, a 161-unit apartment community located at 3706 W 8th St, Dallas, TX 75211.
Dallas markets are still among the most active for multifamily real estate investments. Over the past four quarters, the DFW Metroplex saw $29.2 billion in total volume, accounting for 7.8% of the U.S. total.
Mark Allen, Executive Managing Director of GREA, procured the Buyer and represented the Seller. The asset was sold to an out-of-state private investment group that plans to invest significant capital in improving the property.
“North Oak Cliff needs continued investment into the residential sector. Ten years ago, most people would not want to step foot into Luna Blanca and the surrounding neighborhood”, said Allen. “It’s great to see the property trade hands to receive a thorough renovation, to implement a new and eager management team, and to provide safe, affordable housing for its residents.”
GREA is a national full-service multifamily advisory firm. GREA offers a personal, hands-on, client-driven approach that understands how to tailor solutions to the needs of each investor. GREA aims to help its clients achieve their real estate goals by leveraging its local expertise with the network’s global reach, knowledge, experience, expertise, creativity, and connections. For more information, visit grea.com.