Source: Embrey Partners / #Multifamily #Apartments
SAN ANTONIO, TX - San Antonio-based Embrey Partners, Ltd. has closed on its first Addison, Texas project, an upscale multi-family development in one of fastest growing areas of the Dallas metroplex. The 7.35-acre site is located at the southeast corner of Keller Springs Road and Addison Road. The transaction closed on October 21, 2011.
When completed, the community will be home to 353 one- and two-bedroom units with floor plans that range from 764 square feet to 1,305 square feet. This luxurious class “A” community consists of two four-story buildings wrapped around a convenient parking garage. Interiors will come in urban signature finishes including granite countertops, custom kitchen cabinetry, upgraded lighting and plumbing packages, garden tubs and stainless steel appliances. The development will also feature an urban, sleek clubhouse that includes a wi-fi café, coffee and cappuccino bar, extended 24-hour state-of-the-art health club and resort-style swimming pool. Construction is expected to begin immediately with first occupancy slated for first quarter 2013.
Construction financing provided by Wells Fargo and equity financing arranged by HFF (Holliday Fenoglio Fowler, L.P.).
San Antonio-based Embrey Partners, Ltd., is a developer, builder and manager of market rate multi-family and commercial assets in select markets across the United States. Over the past 37 years, Embrey has developed real estate projects totaling nearly 30,000 apartments and more than six million square feet of commercial space. Partnering with major financial institutions, pension funds, individual investors and Fortune 500 companies, Embrey as the general partner has completed these developments for individual investment purposes, and through joint venture transactions.