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| The Brentdale Apartments, 1515 Rio Grande Drive, Plano, TX |
DALLAS, TX – HFF announced today that it has closed the sale
of The Brentdale, a 412-unit, multi-housing community in Plano, Texas.
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| Rob Key |
HFF marketed the property on behalf of the seller, a joint
venture between Intercontinental Real Estate Corporation and the Pinnacle
Family of Companies. Resource Real
Estate purchased the property for an undisclosed amount free and clear of
existing debt.
The Brentdale is located at 1515 Rio Grande Drive
near the intersection of 15th Street and Custer Road and in close proximity to
a variety of major employment centers such as the Richardson Telecom Corridor,
Collin Creek Mall, Legacy Business Park, Plano Industrial Business Park and the
Texas Instruments plant.
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| Blair Lang |
Situated on 20.96 acres, the property is 93.2 percent leased
with units averaging 862 square feet each.
Community amenities include five resort-style pools, a heated spa,
racquetball court, tennis court, fitness center, tot lot, clubhouse and covered
parking.
The HFF team representing the seller was led by directors Rob
Key and Blair Lang.
Intercontinental Real Estate Corporation is an SEC
registered investment adviser and real estate operating company with expertise
in real estate investment, development, construction management and asset
management.
For a complete
copy of the company’s news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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