Transwestern buys Dallas-area apartments

Population, job growth a major impetus

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Transwestern Investment Co. LLC announced the acquisition of Gables Spring Park and Gables Valley Ranch, two multifamily properties comprised of 507 units near Dallas, Texas. The total value of the transaction was not disclosed. The Spring Park property is located at the interchange of Lookout Drive and The George Bush Turnpike in the Garland/Richardson submarket. Valley Ranch is situated along MacArthur Boulevard just north of Los Colinas in Irving. "This is a very attractive investment for our fund given that these are stable, high-quality properties in a major market with above-average growth in population and jobs," said Edward Ryder, Transwestern's managing director of Multifamily Acquisitions. Chicago-based Transwestern Investment Co. is a principal investment firm specializing in commercial real estate nationwide....