Investcorp sells Dallas apartment property

Site includes more than 13 acres

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Investcorp sold Sonterra at Buckingham Apartments, a 312-unit luxury apartment community located in Richardson, Texas. The value of the transaction was not disclosed. Construction of the class A, garden-style property was completed in 1996, and the complex consists of 13 two- and three-story residential buildings and one clubhouse building. The property has seven different floor plans with 168 one-bedroom units, 120 two-bedroom units and 24 three-bedroom units. The apartment complex encompasses a total of 13.6 acres. Investcorp originally acquired the property in August 1999. An affiliate of Greystar Real Estate Partners purchased the property. At the time of sale, Sonterra was 96 percent leased. Investcorp's New York-based team of real estate professionals focuses on high-quality commercial, hotel and residential properties. *** What's your opinion? Send your Letter to the Editor to newsroom@inman.com....