Connect Media – Buchanan Street Continues TX Trajectory with Rowlett Buy

This article originally appeared in Connect Media.

August 6, 2021

Newport Beach-based Buchanan Street Partners recently acquired Village of Rowlett, a 249-unit multifamily community located in Rowlett, from Catalyst Urban Development. The property was 96 percent occupied at the time of sale.

Built in 2018, Village of Rowlett features 16,588 square feet of retail space, 41 studio, 131 one-bedroom and 50 two-bedroom units with 27 two-bedroom townhomes. Village of Rowlett is located in the center of downtown Rowlett, 20 miles northeast of Dallas’ urban core and 15 miles southeast of Plano, just west of Lake Ray Hubbard.

“Our investment in Village of Rowlett provides the opportunity for Buchanan Street Partners to expand our Texas multifamily portfolio with a recently built transit-oriented apartment community featuring outstanding amenities in close proximity to major Dallas employment centers,” said Kevin Hampton, executive vice president of Buchanan Street Partners.

The acquisition further defines Buchanan Street’s multifamily investment strategy which is focused on acquiring high-quality assets in markets with strong fundamentals. Village of Rowlett is Buchanan’s most recent acquisition in Texas, following Waters Edge, a 351-unit multifamily community in Grand Prairie that Buchanan Street acquired in October 2020.