{"id":1004200087,"date":"2017-12-11T06:58:26","date_gmt":"2017-12-11T14:58:26","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004200087"},"modified":"2022-12-09T01:49:21","modified_gmt":"2022-12-09T09:49:21","slug":"connor-grabs-dallas-luxury-community","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/connor-grabs-dallas-luxury-community\/","title":{"rendered":"Connor Grabs Dallas Luxury Community"},"content":{"rendered":"<p>By Alex Ciorogar<\/p>\n<div id=\"attachment_1004179346\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2017\/12\/8821.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004179346\" class=\"wp-image-1004179346 size-medium\" src=\"https:\/\/internal.multihousingnews.com\/wp-content\/uploads\/sites\/46\/2017\/12\/8821.jpg\" alt=\"Avana West Lemmon in Dallas\" width=\"300\" height=\"240\" \/><\/a><p id=\"caption-attachment-1004179346\" class=\"wp-caption-text\">Avana West Lemmon in Dallas<\/p><\/div>\n<p>Greystar Real Estate Partners has sold Avana West Lemmon, a four-building luxury community in Dallas, to The Connor Group. The transaction marks Greystar Equity Partners VIII&#8217;s first sale. Avana West Lemmon, along with eight other multifamily assets, seeded Greystar Equity Partners VIII shortly after the fund held its final close in the third quarter of 2013.<\/p>\n<p>Located at 3600 Wheeler St. in uptown Dallas, the 372-unit community features one-, two- and three-bedroom apartments. According to Yardi Matrix, the property\u2014consisting in three- and four-story buildings\u2014is\u00a090 percent occupied. Avana West Lemmon also features 18,000 square feet of <a href=\"https:\/\/www.commercialsearch.com\/news\/jv-acquires-portland-retail-portfolio\/\">ground-floor retail space<\/a>.<\/p>\n<h2>Value-add investment<\/h2>\n<p>The luxury units feature granite countertops, stainless steel appliances and wood laminate flooring. Other\u00a0apartment amenities include washers, dryers, microwaves and free Wi-Fi. Individual air conditioning and electric heating are among the services provided by the property.<\/p>\n<p>Common area amenities include:<\/p>\n<ul>\n<li>fitness center<\/li>\n<li>business center<\/li>\n<li>clubhouse<\/li>\n<li>two resort-style swimming pools<\/li>\n<li>two laundry facilities<\/li>\n<li>558 parking spaces<\/li>\n<\/ul>\n<p><em>\u201cThe sale of Avana West Lemmon marks the first disposition for Greystar Equity Partners VIII. We are pleased with the outcome of the transaction and believe the attractive price we were able to command demonstrates the effectiveness of our value-add strategy,\u201d<\/em>\u00a0said Kevin Kaberna, executive director &amp; leader of Greystar\u2019s U.S. Investment platform, in prepared remarks.\u00a0<em>\u201cWe will continue to identify and invest in undercapitalized apartment communities where we can leverage our institutional knowledge and vertically-integrated platform to drive meaningful value enhancement.\u201d<\/em><\/p>\n<p><em>Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 372-unit community features one-, two- and three-bedroom apartments and 18,000 square feet of ground-floor retail space. This is Greystar Equity Partners VIII&#8217;s first sale.<\/p>\n","protected":false},"author":928,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1586,21743,21742],"tags":[33888,38561,38562],"class_list":["post-1004200087","post","type-post","status-publish","format-standard","hentry","category-dallas","category-deals","category-latest","tag-greystar-real-estate-partners","tag-kevin-kaberna","tag-the-connor-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Connor Grabs Dallas Luxury Community - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/connor-grabs-dallas-luxury-community\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Connor Grabs Dallas Luxury Community\" \/>\n<meta property=\"og:description\" content=\"The 372-unit community features one-, two- and three-bedroom apartments and 18,000 square feet of ground-floor retail space. 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