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3409 Premier Drive

Updated Sep 29, 2026

R. Scott Dennis Of Invesco Real Estate Acquires Multifamily Community In Plano For Undisclosed Amount
SOLDMultiFamily

R. Scott Dennis Of Invesco Real Estate Acquires Multifamily Community In Plano For Undisclosed Amount

3409 Premier Drive

Units

122

Asset Type

MultiFamily

Closing

Sep 24, 2026

About this deal

AI

The property asset involved in the transaction is Horizon at Premier, a multifamily community located at 3409 Premier Drive in Plano, Texas. This built-to-rent community consists of 122 units and is situated on approximately 11 acres. The property, constructed in 2017, features gated access and is positioned one block from U.S. Route 75, enhancing its appeal in the North Dallas area.

Summary of transaction details:

The key individuals involved in the deal include R. Scott Dennis representing Invesco Real Estate, along with the brokers from Institutional Property Advisors, namely Joey Tumminello, Michael Ware, Drew Kile, Taylor Hill, and Jack Windham. Institutional Property Advisors, a division of Marcus & Millichap, facilitated the sale, indicating a strong interest in infill built-to-rent assets within the competitive North Dallas employment corridors.

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MultiFamily

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Players

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

86 deals

Broker
R. Scott Dennis

R. Scott Dennis

Invesco Real Estate

Buyer

$1.5B

vol

17 deals

Buyer
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Plano MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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