Dallas, TX (August 27, 2021) – Buchanan Street Partners, a Newport Beach, California-based real estate investment management firm, has acquired 4600 Ross, a 294-unit multifamily community located in Dallas, Texas. Buchanan acquired the property from Cypress Real Estate Advisors.
Built in 2020, 4600 Ross features 51 studio, 166 one-bedroom, and 72 two-bedroom units, with 5 three-bedroom townhomes. The property was 95% occupied at the time of sale.
The property is strategically located in the thriving Ross Avenue Corridor of East Dallas, minutes from Lower Greenville, Lakewood, Knox Henderson, Deep Ellum, Uptown/Downtown Dallas, and the world-renowned Dallas Arts District, offering residents a true live, work, play environment.
The Class A construction and design of 4600 Ross includes air-conditioned corridors, high end finishes throughout, along with extensive community amenities that include a resort-style swimming pool, covered outdoor living area, package locker system, best in class fitness center, yoga studio, sky lounge, pet spa and dog park.
“4600 Ross is an exceptional, long-term investment opportunity to acquire Class A apartment units with resort-style amenities and a stabilized occupancy, located near major employment centers in a submarket with strong fundamentals and long-term forecasted growth” said Buchanan Street Partners Executive Vice President Kevin Hampton.
The purchase further demonstrates Buchanan Street’s multifamily investment strategy which is focused on acquiring high-quality assets in markets with strong fundamentals. This acquisition is Buchanan’s third in the last 11 months in Texas. Buchanan acquired Waters Edge in Grand Prairie in October 2020 followed by the acquisition of Village of Rowlett which closed in June 2021.
Buchanan plans to continue to expand its footprint in the DFW region over the coming years given the strong submarket fundamentals and overall economic growth of the region.
Buchanan Street Partners is a real estate investment firm based in Newport Beach, California that invests debt and equity capital on behalf of institutional and private investors. Since its inception, Buchanan Street has invested more than $7 billion in real estate debt and equity investments. The company is comprised of a highly skilled team that has invested through multiple real estate cycles, enabling them to maximize value while prioritizing capital preservation. www.buchananstreet.com.