GREA, specializing in serving private to institutional multifamily real estate investors, announces the sale of Audra Townhomes, a 161-unit townhome community located in Denton, Texas.
Audra Townhomes is located just east of Texas Woman’s University, providing residents with convenient access to top-tier education, employment, and entertainment options in the heart of Denton. Audra Townhomes average almost 1650 square feet in size with floor plans ranging from three to four bedrooms. Features include quartz countertops, stainless steel appliances, full-size washers and dryer connections, walk-in closets, smart home integration, yards and attached two-car garages.
The local Seller, Audra Townhomes 1 LLC, sold to a Publicly Traded REIT. Mark Allen and Lee Robinson of GREA brokered the sale. The
Mark Allen, Executive Managing Director of GREA, remains optimistic about the future of Single-Family Rentals, stating, “Housing affordability is at an all-time low while rental demand is at an all-time high. The supply and demand imbalance has led to the Single-Family Rental (SFR) and Build-to-Rent (BTR) asset classes outperforming multifamily in both rental growth and occupancy. With 15 years of experience in the SFR and BTR space, GREA is firmly confident in the future of these asset classes.”
The marketing process for Audra Townhomes was highly competitive despite the complex development component, and the Buyer pool was very diverse from discretionary funds, syndicators and institutional investors.
