Lion Real Estate Group has acquired The Surround Apartments in Irving, Texas. The multifamily property, located at 4299 Pleasant Run Road, consists of 354 units. The transaction took place on July 27, 2023. The seller, Nitya Capital, completed the sale to Lion Real Estate Group.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: Not mentioned
• Units: 354
• Market: Irving

The Surround Apartments will undergo immediate capital improvements and renovations as Lion Real Estate Group plans to rebrand the property as The Stella. With this acquisition, Lion Real Estate Group now adds 354 units to their existing portfolio in the Irving area, bringing the total number of units in the submarket to 1,336 and 1,986 units in Dallas overall.

Jeff Weller, Mory Barak, and Ben Kriegsman from Lion Real Estate Group represented the buyer in this transaction. They played a key role in securing the deal, expanding their company's presence in the Irving market. Nitya Capital acted as the seller in the transaction, parting ways with The Surround Apartments.