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Cortland Acquires 230-Unit Multifamily Tower In Dallas From MetLife For $57.4M

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SOLD
Steven DeFrancis
JM

Texas

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MultiFamily
Sold 01/04/2024
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Property Image
SOLD

Cortland Acquires 230-Unit Multifamily Tower In Dallas From MetLife For $57.4M

1900 Mckinney Avenue

See Similar Deals
MultiFamily
Sold 01/04/2024
Steven DeFrancis
JM
the dealplayerscompscontact
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

Cortland Partners LLC has acquired the 26-story apartment tower located at 1900 McKinney Ave in Dallas. After the acquisition, the property has been rebranded as Cortland on McKinney. The multifamily asset is comprised of 230 units and features attractive amenities such as a rooftop pool and fitness center. The property was sold by an affiliate of MetLife Real Estate Investors.

Summary of transaction details

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Address: 1900 McKinney Ave
  • Market: McKinney

The buyer of the property is Steven DeFrancis, representing Cortland Partners LLC. On the other hand, the seller is John D. McCallion, representing MetLife Real Estate Investors. The lender involved in the transaction is KCore Lending I LP, providing a loan worth $57.4 million for the acquisition.

Players

Steven DeFrancis
Cortland
Steven DeFrancis
15 deals$1.6B volume
BUYER
JM
MetLife
John McCallion
5 deals$204.3M volume
SELLER
KL
KCore Lending I LP
LENDER

Details

SOLD
IMAGE: Steven DeFrancis & John D. McCallion DATE: 01/04/2024 ADDRESS: 1900 McKinney Ave MARKET: McKinney ASSET TYPE: Multifamily BUYER: Steven DeFrancis - Cortland SELLER: John D. McCallion - MetLife Real Estate Investors LENDER: KCore Lending I LP NOTE: Cortland Partners LLC acquired the 26-story apartment tower at 1900 McKinney Ave in Dallas, rebranding it as Cortland on McKinney. The property, with 230 units, rooftop pool, and fitness center, was purchased from an affiliate of MetLife Real Estate Investors, with a $57.4 million loan from KCore Lending I LP.

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