The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announced this week they facilitated the sale of Jamestown and Williamsburg in Temple. TMG Advisor Danny Wieland represented the seller, and Vice President Chase Davis procured the buyer.
Jamestown and Williamsburg was built in 1995 and 1965 respectively, was sold by the original developer, and has several more acres ready for development. The units are larger than average in the area, at over 1,000 sqft., and the new owner now has an opportunity to renovate interiors and increase rents by over 60 percent.
The buyer, Wolf Creek Capital Partners is led by Michael Prahl. “Michael has a proven track record across the nation, and we are excited to bring him to the Texas market,” said Davis.