Waterford, Vistria JV buys 299-unit, Axis Kessler Park, $67M ($224,080/unit) in Dallas, to convert to affordable

8/12/2024

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MHN

• Subcategory: MF: Affordable, MF: Market Rate

• Tag: Conversion | JV-Partnership | Sale

• Additional Filters-Subcategory: MF: Garden

• Additional Filters-Tags: Conversion: Market Rate-to-Affordable, MF: Attainable Housing, Sale: Ground Lease (Leasehold), Sale: Investment, Sale: Single Property

A joint venture between Waterford Property Co. and The Vistria Group has bought Axis Kessler Park, a 299-unit Class A asset in Dallas. The venture paid $67 million for the property, while Walker & Dunlop originated a Freddie Mac acquisition loan. Sherman Residential previously owned the property, Yardi Matrix data shows. CBRE represented the seller.