Updated Sep 29, 2026
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:
- Property Type: Multifamily
- Transaction Amount: Not specified
- Units: 122
- Acres: 11
- Buyer: R. Scott Dennis - Invesco Real Estate
- Brokers: Joey Tumminello, Michael Ware, Drew Kile, Taylor Hill & Jack Windham - Institutional Property Advisors
- Date: 09/24/2026
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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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