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DALLAS, TX – December 5, 2018 – Holliday Fenoglio Fowler, L.P. (“HFF”) announces a joint venture equity raise for the acquisition of two adjacent apartment communities in Dallas, Texas, totaling 712 units – Emory at Horizon North and Ashmore at Horizon North.
The sponsor, Archway Equities LLC, engaged HFF to source funding for the acquisition of the properties through Atlantic Creek Real Estate Partners, LLC.
Emory at Horizon North is an institutional-class property built in 1995 consisting of 14 three-story residential buildings comprising 348 units, which total 300,019 rentable square feet. Ashmore at Horizon North was built in 1997 consisting of 16 three-story residential buildings comprising 364 units, which total 309,360 rentable square feet.
The Plano-adjacent properties are situated on a total of approximately 36 acres at 4200 and 4300 Horizon North Parkway. The properties are immediately northwest of the President George Bush Turnpike and Dallas North Tollway in North Dallas, which provides residents easy access around the DFW metroplex. The communities each have separate amenity packages, which include features such as resort-style pools, sports courts, picnic/grilling areas, fitness centers, business center and conference rooms. The joint venture is planning to further enhance the amenities and renovate unit interiors in the next 24 months.
The HFF team representing Archway Equities LLC included director Michael Cosby along with senior director Mark Erland and director Matthew Benson.