Overview
Colliers Dallas Multifamily Advisors has been retained by Shaw Development Group as exclusive agent to arrange the JV equity capitalization for 1215 Crossing Apartments, a proposed $40 million Class A, apartment community located within the rapidly growing Dallas/Fort Worth city of Glenn Heights, TX. When complete, 1215 Crossing Apartments will consist of seven-three-story buildings containing 228 apartment homes with tuck-under garages. The sponsor has already closed an attractive, fixed- rate construction loan with a regional bank and has begun the horizontal development.
Investment Highlights
The site is strategically located west of Interstate 35 on East Bear Creek Road, a major west-east thoroughfare. The Regional Transportation Council has decided to turn East Creak Road into a four-lane road that will include pedestrian space for enhanced mobility. Google has purchased ~165 acres of land in Red Oak for it’s second $600 million data center project in the Dallas/Fort-Worth metroplex. The acquisition is part of the new Google Cloud region in Dallas, which is part of the company’s $9.5 billion investment in data centers, which began in 2022 and will create 12,000 jobs in aggregate.
- Experienced Partner with Local Expertise
- Rapid Growth Corridor
- Excellent Connectivity
- Competitive Construction Debt
- Economic Development - Nearby Google Data Center, Compass Data Center(s), Bombardier Factory, and Qarbon Aerospace
Property Description
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