Now an affiliate of Cosa Mesa-based Arnel Management has acquired the Jefferson Terrace apartments in McKinney.
A California investor has made the latest North Texas apartment buy.
The Dallas-Fort Worth area was already leading the country in apartment purchases this year. Now an affiliate of Costa Mesa-based Arnel Management has acquired the Jefferson Terrace apartments in McKinney. , the Jefferson Terrace rental community has 354 units and is located on Rockhill Road. Rents in the property start at more than $1,600 a month.Arnel Management owns a variety of investment properties, including almost two dozen rental communities in Southern California.
Through the first nine months of this year, investors have purchased more than $18 billion in D-FW apartment properties — the most of any U.S. metro area, according to aCommercial property firms Marcus & Millichap, CBRE Group and Newmark Group handled the largest number of apartment transactions so far this year, according to MSCI.
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