The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announced the sale of The Parks on Taylor in Sherman, Texas, just one hour north of Dallas.
Jon Krebbs represented the seller, and Yonnic Land procured the buyer.
Built in 1979, the property offers one and two-bedroom units that average 800 square feet and boasts a range of amenities, including two laundry rooms, two pools, a dog park, and a picnic area with BBQ grills. Select units feature fireplaces, balconies or patios, walk-in closets, vaulted ceilings, and dedicated storage space. The Parks on Taylor is pet-friendly with few restrictions and each resident is allotted a dedicated parking space.
Over the last three years, Sherman has seen significant investment from semiconductor manufacturers. In August of last year, the US Department of Commerce announced a $1.6 billion investment in helping North Texas-based Texas Instruments expand its operations.
“The new buyers combined long term Freddie Mac financing with an HFC ground lease to provide some much-needed affordable housing in a rapidly growing market,” Land said. “They would love to buy more.”
The Multifamily Group is a commercial real estate brokerage firm focused exclusively on clients and helping them market, sell and acquire multifamily assets. Based in Dallas, Texas, investors look to The Multifamily Group for one thing – results.
