SAN
ANTONIO and DALLAS,
June 21,
2022 /PRNewswire/ -- SWBC Real Estate, LLC, announced
that it recently sold five multi-family properties in the Royalton
Portfolio. Marcus & Millichap's Institutional Property Advisors
(IPA) handled the sale for SWBC Real Estate.
The portfolio consists of the following properties throughout
Texas:
The Royalton at Grand Prairie™ – 300 units located in Grand Prairie, TX
Central Park at Craig Ranch – 271 units located McKinney, TX
The Royalton at Craig Ranch™ – 271 units located in McKinney, TX
The Royalton at Rockwall Downes™ – 295 units located in
Rockwall, TX
The Royalton at Sunfield™ – 300 units located in Buda, TX
"It's apparent that there is still a very aggressive appetite
for new multi-family properties in the Dallas and Austin markets, as there was a large amount of
interest in the sale of these properties," said Stuart Smith, Chief Operating Officer of SWBC
Real Estate, LLC. "Additionally, the recent uptick in interest
rates are causing some concern with the future values of commercial
real estate properties; however, the continued interest in the
multi-family sector in well-located areas throughout Texas has remained strong at this time."
Each property is a Class A multi-family complex situated in
high-growth areas, within close proximity to a major city in
Texas. The continued population
growth across the state helped escalate the leasing velocity for
each property, while also providing attractive rent growth
throughout the lease-up of the portfolio.
IPA's Joey Tumminello,
Will Balthrope, Jordan Featherston, Michael Ware, Taylor
Hill, Kent Myers,
Asher Hall, Grant Raymond, Jeffrey
Kindorf, and Drew Kile
represented SWBC Real Estate in this transaction.
"Our statewide team worked seamlessly together to deliver the
utmost results for our client, producing two top buyers in
Dallas-Fort Worth and Austin, Texas," said Drew Kile, IPA. "Handling the sale of five new
construction assets in different markets came down to finding the
right buyers looking to expand their footprint in best-in-class,
Suburban Core product."
The purchaser of the Dallas-Fort
Worth area properties was Lightbulb Capital Group, the
Family Office of Jay Schuminsky.
Brixton Capital purchased the Austin Property. Both buyers
are located in California.
"This was a special opportunity to scale our DFW multi-family
footprint with four best-in-class properties in highly desired
markets," said Jay Schuminsky,
Lightbulb Capital Group.
SWBC Real Estate recently began construction on its latest
project The Royalton at Creeks of Legacy in Celina, Texas, and has several more
developments currently planned, of which will be included as part
of the recently raised SWBC Real Estate Fund.
About SWBC Real Estate
SWBC Real Estate, LLC
(www.swbcrealestate.com) is owned by SWBC Enterprises, Ltd. SWBC
Real Estate is managed by an experienced team of real estate
professionals located in Dallas,
Texas, with a primary focus in multi-family development.
SWBC Enterprises, Ltd. is owned by Charlie
Amato and Gary Dudley,
co-founders of SWBC. SWBC is a diversified financial services
company providing a wide range of insurance, mortgage, and
investment services to financial institutions, businesses, and
individuals. With offices across the country, SWBC is committed to
providing quality products, outstanding service, and customized
solutions in all 50 states. For more information, visit
www.swbc.com.
About Institutional Property Advisors
(IPA)
Institutional Property Advisors (IPA) is a
division of Marcus & Millichap (NYSE: MMI), a leading
commercial real estate services firm in North America. IPA's combination of real
estate investment and capital markets expertise, industry-leading
technology, and acclaimed research offer customized solutions for
the acquisition, disposition and financing of institutional
properties and portfolios. For more information, please visit
www.institutionalpropertyadvisors.com
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SOURCE SWBC