AvalonBay Communities Acquires Multifamily Properties In Frisco & Carrollton, TX And Mooresville, NC For $277.2M | 1801 Mccord Way | MultiFamily | Sale

Summary

Sale

TEXAS

MultiFamily

AvalonBay Communities recently acquired two properties in Texas and North Carolina as part of their strategy to achieve operating scale in the Sun Belt region. The properties are located at 1801 Mccord Way & 4216 Sloane Street in Frisco & Carrollton, TX, and 151 Capital Avenue in Mooresville, North Carolina. The multifamily asset consists of a total of 1,031 units.

Summary of transaction details

Property Type: Multifamily
Transaction Amount: $277,200,000
Units: 1,031
Price per Unit (PPU): $268,865
Buyer: AvalonBay Communities - Matt Birenbaum

AvalonBay Communities' acquisition aligns with their strategy to focus on affordable price points for better growth in the Sun Belt region. By transitioning to a net seller of apartments, the company aims to achieve operating scale and capitalize on the potential of this market.

Details

Deal Summary

SOLD

IMAGE: Matt Birenbaum DATE: 12/12/2023 ADDRESS: 1801 Mccord Way & 4216 Sloane Street; 151 Capital Avenue MARKET: Frisco & Carrollton, TX; Mooresville, North Carolina ASSET TYPE: Multfamily BUYER: AvalonBay Communities (@AvalonBayCommunities) - Matt Birenbaum SALE PRICE: $277,200,000 UNITS: 1,031 ~ PPU: $268,865 NOTE: AvalonBay Communities, transitioning to a net seller of apartments, recently acquired properties in Texas and North Carolina. The purchases align with the REIT's strategy to achieve operating scale in the Sun Belt, focusing on affordable price points for better growth.

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Address1801 Mccord Way

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