Sam Kuiumdjian And Partners Acquire Hickory Trace Townhomes From Starwood Property Trust For $24.25M

The asset involved in this transaction is Hickory Trace Townhomes, a 180-unit multifamily affordable housing community located at 8410 South Westmoreland Road in Dallas. The property was sold for $24,250,000, comprising a total square footage of 215,838. The price per unit is $134,722, and the price per square foot is $112.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $24,250,000
• Units: 180
• Square Footage: 215,838
• Price Per Unit: $134,722
• Price Per Square Foot: $112
• Buyer: Sam Kuiumdjian, Matthew Ellis, Matt Jacobs & Guy Penini - BLDG Partners
• Seller: Starwood Property Trust
• Broker: Timothy Flint - CBRE

BLDG Partners has acquired this property, which is a Low-Income Housing Tax Credit (LIHTC) community with 100% of units restricted to residents earning up to 50% of Area Median Income (AMI). The community is currently 98% occupied and consists entirely of 3- and 4-bedroom townhomes, each equipped with private garages.