V. Jay Hiemenz Of Alliance Residential Company Acquires Multifamily Community From Mukesh Parna For $32M

The transaction involves a multifamily asset located at 9001 North Beach Street in Fort Worth, covering an area of 15 acres. The buyer, Alliance Residential Company, has acquired the property from Sankalp Developers, marking this asset's first sale since its completion in 2023. The property consists of 226 residential units and is financed through a $32 million permanent loan secured from Invesco Real Estate.

Summary of transation details:

• Property Type: Multifamily
• Transaction Amount: $32 million
• Buyer: V. Jay Hiemenz - Alliance Residential Company
• Seller: Mukesh Parna - Sankalp Developers
• Lender: Invesco Real Estate
• Address: 9001 North Beach Street
• Market: Fort Worth
• Acres: 15

This transaction highlights the involvement of key individuals in the closing of the deal, with V. Jay Hiemenz representing Alliance Residential Company while Mukesh Parna represents Sankalp Developers in this transaction. The deal signifies a strategic acquisition within the multifamily sector, facilitated by Invesco Real Estate as the lending entity.