TIC investors pick up multifamily community

Dallas-Fort Worth deal includes 273 units and 285,000 square feet

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Grubb & Ellis Realty Investors LLC has acquired Enclave on Golden Triangle, a 273-unit multifamily community, in the Dallas-Fort Worth suburb of Keller, Texas, on behalf of tenant-in-common investors. The value of the transaction was not disclosed. The property is located at 5001 Golden Triangle Blvd., and totals more than 285,000 rentable square feet on approximately 16.7 acres. Built in 2007, the Class A institutional asset consists of one clubhouse and 29 two-story apartment buildings, offering 12 different one-, two-, three- and four-bedroom floor plans ranging in size from 689 to 1,557 square feet. The property was 97 percent leased at the time of purchase. Each apartment unit includes luxury amenities such as granite countertops, designer carpet, ceramic tile and washer and dryer connections. Enclave on Golden Triangle offers 193 attached garages with 97 one- and 96 two-car garages, more than any competitor in its submarket, along with 31 uncovered parking spaces....