facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

Texas

/

Multifamily

/

Sale

/

4701 Preston Park Boulevard

Updated Jul 27, 2026

Ryan M. Akins And Partners Acquire 266-Unit Multifamily Community In Plano Texas From Newmark
SOLDMultiFamily

Ryan M. Akins And Partners Acquire 266-Unit Multifamily Community In Plano Texas From Newmark

4701 Preston Park Boulevard

Units

266

Asset Type

MultiFamily

Closing

Jul 22, 2026

About this deal

AI

The Ellington, a 266-unit multifamily community located at 4701 Preston Park Boulevard in Plano, TX, was recently acquired by Red Summit Partners. The transaction involved a multifamily asset, and the company plans to undertake a three-year value-add renovation aimed at repositioning the property to Class A standards.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: Not specified
  • Units: 266
  • Address: 4701 Preston Park Boulevard
  • Market: Plano, TX
  • Buyer: Ryan M. Akins, JR Bolos, Ted Broadfoot & KC Kronbach - Red Summit Partners
  • Broker: Newmark
  • Lender: Starwood

Newmark represented the seller in this deal and also arranged acquisition financing from Starwood. The investment focuses on the increasing housing demand in the Preston Park/Legacy corridor of West Plano, Texas.

On the Map

Open live map

MultiFamily

View full map

Players

Newmark
NewmarkBrokerage

Ryan M. Akins

Red Summit Partners

Buyer
Buyer
Red Summit Partners
Red Summit PartnersBuyer
Bilt advertisement

Plano MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

Loading comparables…

Deal FAQ

Visit Red Summit Partners to view all their deals.

Browse Plano multifamily sales on Traded.

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

More Deals

Nearby Markets