Legacy Partners (“Legacy”), a privately held national real estate firm, and HGC Investment Management, announced today the close of a 3.38-acre development site in Irving, Texas’s lakefront community of Las Colinas. The multifamily development, Legacy Lakeshore, will be comprised of 293 units ranging from a 580-square-foot studio to a 1,945-square-foot two-bedroom apartment. The community is set to deliver in 2020.
“Legacy Lakeshore will be luxurious lakeside living at its best,” said Bob Panizo, Legacy’s new Vice President of Development. “Las Colinas is an incredibly exciting and evolving community. The easy access to public rapid transit makes it ideal for young people and established commuters alike. We look forward to breaking ground in the coming months and delivering an elevated living experience for future residents.”
Legacy Lakeshore, designed by architectural firm REES Associates, Inc., will feature spectacular lake views; a high-grade fitness center with a yoga/spinning studio; outdoor kitchens with grilling stations; an in-ground pool and hot spa with sunbathing decks; and a dock with paddleboards and kayaks for resident use.
The community is just steps away from stations for the DART Orange commuter rail and Las Colinas’ local Area Personal Transit System (the “APT”).
In October, the company announced the hiring of Bob Panizo as Vice President of Development in Legacy’s Dallas, Texas development office. He will manage Legacy’s multifamily development projects in Texas, as well as provide support to some of Legacy’s Colorado activities.
As a developer, Legacy has delivered more than 1,385 multifamily units in communities across three states this year, making 2018 one of their most active years.
HFF provided equity and debt financing representation, and the land sale was brokered by IPA and Transwestern.
About Legacy Partners
Legacy Partners (“Legacy”), a privately held real estate firm founded in 1968 and headquartered in the San Francisco Bay Area, owns, develops and manages multifamily communities throughout the United States. Legacy has regional offices in California, Colorado, Florida, Texas, and Washington, and has developed more than 60,000 apartment homes in Arizona, California, Colorado, Nevada, Oregon, Texas, and Washington. Since inception, Legacy has worked with some of the world’s largest financial institutions, life insurance companies, and real estate companies, consistently returning exceptional results.
Legacy provides management services for its own portfolio, as well as other owners. Combined, Legacy manages a portfolio of over 60 multifamily communities with more than 14,000 apartment homes, and with a gross value in excess of $2 billion.