ShainRealty Capital Acquires Multifamily Property In Dallas From Alpha Barnes Real Estate

The recently closed sale of 8997 Vantage Point Drive in Dallas offers a compelling opportunity for ShainRealty Capital, led by Jonathan Shainberg and Elliot Shainberg, to acquire a sizable multifamily asset with significant rental upside. This multifamily property consists of 249 units, with an average size of approximately 767 square feet. The property's in-place average rents are currently 30% below market value, presenting a potential for increased rental income.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: Not provided
• Units: 249
• Square Footage: 190,956
• Address: 8997 Vantage Point Drive, Dallas

In this deal, ShainRealty Capital was represented by Chris Deuillet from CBRE. The seller of the property was Alpha Barnes Real Estate. The acquisition of this multifamily asset aligns with ShainRealty Capital's strategy to invest in properties with potential for future value enhancement.