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Mountain River VO EP LLC Sells 178-Unit Multifamily Portfolio In Dallas To Out-of-State Buyer

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Texas

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Mountain River VO EP LLC Sells 178-Unit Multifamily Portfolio In Dallas To Out-of-State Buyer

3311 South Vernon Avenue & 3702 Legendary Lane

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MultiFamily
Sold
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Summary

TEXAS
Asset Type:MultiFamily
Transaction Type:Sale

The multifamily asset involved in the transaction is comprised of two apartment communities located at 3311 South Vernon Avenue and 3702 Legendary Lane in Dallas, Texas. The properties, known as 3311 at Vernon with 118 units and La Madera with 60 units, total 178 units. Positioned strategically between Dallas’ Bishop Arts District and Red Bird Mall Redevelopment, these communities offer residents convenient access to key amenities and employment opportunities.

Summary of transation details:

  • Property Type: Multifamily
  • Transaction Amount: Not disclosed
  • Units: 178
  • Address: 3311 South Vernon Avenue & 3702 Legendary Lane
  • Market: Dallas

Global Real Estate Advisors (GREA) served as the broker in this transaction, facilitating the sale of the properties from Mountain River VO EP LLC to an undisclosed out-of-state buyer. The buyer intends to enhance the communities with improvements and new amenities to further elevate their appeal in the Dallas market.

Players

Mark Allen
Colliers
Mark Allen
32 deals$130M volume(972) 865-6328
BROKER

Details

SOLD
IMAGE: Mark Allen DATE: 05/10/2024 ADDRESS: 3311 South Vernon Avenue & 3702 Legendary Lane MARKET: Dallas ASSET TYPE: Multifamily ~ UNITS: 178 SELLER: Mountain River VO EP LLC BROKER: Mark Allen - Global Real Estate Advisors (GREA) (@GREA_CRE) NOTE: GREA, a national multifamily advisory firm, facilitated the sale of two apartment communities in Dallas, Texas—3311 at Vernon (118 units) and La Madera (60 units)—totaling 178 units. Positioned strategically between Dallas’ Bishop Arts District and Red Bird Mall Redevelopment, these properties offer residents easy access to key amenities and employment opportunities. The local seller, MOUNTAIN RIVER VO EP LLC, transferred ownership to an undisclosed out-of-state buyer, who plans to enhance the communities with improvements and new amenities to maintain their appeal in the Dallas market.

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