Presented by: Dallas Business Journal
Nova Eagle Multifamily Property Fund II LLC, an affiliate of Miami-based Eagle Property Capital, has snapped up an Irving apartment property for an undisclosed sum.
The 184-unit complex at 1319 North Nursery Road was purchased from Westdale Silverado Ltd. CBRE’s Chris Deuillet represented the seller in the deal, while the buyer was self-represented.
The property had more than a dozen offers from out-of-state investors looking to take advantage of the well-performing real estate in North Texas, said Deuillet, a first vice president with CBRE.
Nearly every city in Dallas-Fort Worth has occupancies near their five-year highs and the operating market fundamentals for apartments have remained strong, he added. The influx of out-of-state investors banking on Texas is part of a much larger trend.