Overview
Colliers has been retained by the receiver as the exclusive agent to arrange the sale of Park Residences Plano, a premier 55+ active adult rental community in Plano, Texas. Park Residences Plano consists of 318 apartment homes and cottages, combines thoughtfully designed living spaces, best-in-class amenities, and expansive green space to deliver a lifestyle-driven investment opportunity in one of Texas’s most desirable suburban markets. Situated on approximately 31 acres in the heart of Plano, the property offers a unique blend of privacy, convenience, and community connectivity for the rapidly growing senior renter population.
Investment Highlights
Completed in mid-2023, Park Residences features 318 purpose-built rental units, 156 cottage-style residences and a 162-unit mid-rise building. The community was intentionally designed to reflect the preferences of active adult renters, offering one- and two-bedroom floor plans ranging from 810 to 1,195 square feet, all with full kitchens and modern finishes.
Community features were designed to foster social engagement, wellness, and convenience. A 10,000-square-foot clubhouse anchors resident life with amenities like a commercial kitchen, dining room, fitness center, massage room, library, salon, game lounge, and a 50+ seat theater. Outdoor offerings include a heated pool and spa, pickleball courts, fireplace lounge, among many others. A soon-to-be-completed 13-acre private park will feature a dog park, gazebo, walking trail, benches, and a fishing area, enhancing its appeal as a long-term home for active adults.
