Dallas, TX – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate company, announces the sale of Sanctuary 1518, a 20-Unit Class A apartment community located in Dallas, Texas. The address of the multifamily property is 1518 N. Carroll Ave., Dallas, TX. Senior Associate, Danny McQuaid, represented the seller, Slate Properties, a Dallas based real estate development firm. The asset traded to a private buyer based out of California for an undisclosed price.
Completed in 2019, Sanctuary 1518 is a Class A+ townhome-style apartment community located in Dallas’ East Village. The property features red oak floors, polished concrete, a community fire pit, a community dog park, and vaulted ceilings in the bedrooms. The multifamily asset consists of 20 units across 6 buildings with a rentable square footage of 29,706.
“The high level of interest we were able to generate for this offering reaffirms the strong investor appetite for newly constructed multifamily assets in Dallas,” notes McQuaid. “Even amid the COVID-19 crisis, we were able to achieve phenomenal results for our client thanks to our extensive marketing efforts and ingenuity throughout the deal process. We had interest from buyers ranging from high net worth private individuals to foreign capital and even institutions.”
The contemporary luxury townhome development is ideally located off Carroll Ave in Dallas’ East Village, proximate to Lower Greenville, Deep Ellum, Downtown, Uptown, and Knox Henderson. Sanctuary 1518 also boasts access to retail and entertainment hubs, dining options, and several outdoor park and recreational areas. The Property offers connectivity via US-75, providing quick access throughout the DFW Metropolitan area.
“Contingencies were not waived preceding the national lockdown and we worked actively with all parties to arrange the closing of this transaction. Completing this closing during the COVID-19 pandemic is a testament to the capabilities of our multifamily division to achieve a successful result for both buyer and seller,” said McQuaid. “This was truly a team effort and a tremendous accomplishment, especially during these uncertain times.”
For more information regarding the sale of Sanctuary 1518 in Dallas, TX or if you have any other questions related to multifamily investments, please do not hesitate to reach out to Senior Associate, Danny McQuaid. To view all current listings, please visit www.matthews.com.
Matthews Real Estate Investment Services™ is recognized as an industry leader in Shopping Centers, STNL, Multifamily, Leasing, Management, Portfolio Disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com.