Excelsa Properties Acquires Multifamily Community in Dallas, Texas

Excelsa provided 100% of the equity of the transaction, which represents the firm’s first Core/Core Plus acquisition of a newly constructed, Class A multifamily property, first Dallas MSA acquisition, and first Green Globes-certified acquisition.

“We have been working very hard to secure our first asset in Dallas.  We expected it to be a Value-Add investment in an older Class B or Class C property.” says David Fletcher, Managing Director and Head of Acquisitions of Excelsa. “When the Value-Add market stalled in March, we pivoted to Core/Core Plus opportunities.  We are very excited about Aspen at Mercer Crossing and are now working hard to secure a second Dallas asset.  The strength of the Dallas economy and job market is the opportunity. We will pursue that in Class A, Class B and Class C assets.”

Aspen at Mercer Crossing is an elevator accessible, three and four-story garden style property delivered in 2019. The unit mix features studio to three-bedroom apartments, with large floor plans ranging up to 1,423 square feet.  Common-area amenities include a swimming pool, fitness and yoga room, outdoor kitchen, covered foosball and ping pong tables, private gathering area, and dog park.  “The community is excellent.  We’d like to add luxury services, car ports, and an outdoor exercise area.”

 
About Excelsa Properties


Excelsa Properties is the United States real estate investment arm of Excelsa Holding, an independent investment firm with over $130 million in equity under management and activities in the United States, Middle East and Africa.