Triple Net Properties on Friday announced it represented tenant-in-common investors in the purchase of a 494-unit apartment community in Dallas, Texas.
The value of the transaction was not disclosed.
A joint venture comprised of Chatham Court Associates L.P., Reflections Associates L.P. and Das Reflections LLC sold the property, known as Chatham Court/Reflections. The property is situated on approximately 22 acres of land and consists of 36 two- and three- story apartment buildings and a separate building containing a clubhouse, fitness center and leasing center. The property also includes 70 detached garages and a total of 694 parking spaces.
Property amenities include two outdoor swimming pools, heated spas, and lighted tennis courts.
The property was 94 percent occupied at the time of sale.