Houston Apartment Developer Expands with Dallas Deal

DALLAS – (Realty News Report) – Barvin, a real estate organization based in Houston, acquired the 324-unit Los Altos Trinity Green, formerly known as Alta Trinity Green apartments.

Barvin, led by Eric Barvin, has been expanding its multifamily portfolio. The firm recently broke ground on a 281-unit, five-story, wrap-style project near the corner of Knight Road and El Paseo near the Texas Medical Center in Houston.

Barvin’s Dallas acquisition – now called  the Los Altos Trinity Green apartments – is part of the master-planned, 24.8-acre Trinity Green development. Completed in 2019, the property consists of 270,794 rentable square feet and offers studio-, one-, two- and three-bedroom units.

Barvin’s Dallas project has views of the landmark Margaret Hunt Hill Bridge, a cable-stayed bridge over the Trinity River near downtown.

Located at 990 Singleton Blvd., Los Altos Trinity Green is positioned in the burgeoning West Dallas, a 10-minute drive from the city’s Central Business District. Downtown Dallas, a major employment hub with more than 2,500 companies and 30 million SF of office space that supports more than 135,000 jobs. Additionally, Los Altos Trinity Green is in proximity to nearly 600 dining and retail options, the city’s medical district and Dallas Love Field Airport.

JLL Capital Markets

JLL Capital Markets arranged acquisition financing for Barvin.

JLL originated a 10-year, 2.625 percent fixed-rate Fannie Mae loan with five years of interest-only payments. The loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. 

 The JLL Capital Markets team representing the borrower was led by Senior Managing Director Susan Hill and Managing Director Cortney Cole. Cole was recently named Houston District Council Chair for the Urban Land Institute (ULI).   

Barvin acquires and builds properties throughout Texas and the southwest and southeastern U.S. . Earlier this year, Barvin acquired the Rivera on Broadway, a 302-unit project at 1130 Broadway in San Antonio.


Nov. 13, 2020  Realty News Report Copyright 2020


File: Houston Apartment Developer Expands

File: (2) JLL Capital Markets. Barvin. Barvin Group.Eric Barvin. Houston Apartment Developer Expands in Dallas. Fannie Mae. Cortney Cole. ULI. Houston District Council. Urban Land Institute.

 

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