GREA, a national leader in multifamily advisory services, announces the sale of Cottonwood Park Village, a 175-unit garden-style apartment community in Grand Prairie built in the 1980s.
“Cottonwood Park Village fills a key need in Grand Prairie’s housing mix,” said Mark Allen, Executive Managing Director at GREA. “It provides essential workforce housing with potential to continue to improve local housing.”
Cottonwood Park Village includes one- to four-bedroom units and was 92% occupied at the time of sale. Residents enjoy a range of amenities including a swimming pool, fitness center, laundry facilities, and private patios.
“Investor interest was strong given the property’s scale, value-add potential, and strategic location between Dallas and Fort Worth,” said Chibuzor Nnaji, Senior Managing Director at GREA. “The buyer recognized the opportunity to preserve naturally affordable housing while executing a thoughtful capital improvement plan.”
The buyer plans to continue enhancing the property through targeted renovations and operational improvements, aiming to maintain affordability while improving overall performance.
Located between Dallas and Fort Worth, Grand Prairie’s population is nearing 200,000, growing at nearly 1% per year. The city continues to attract jobs and new development through strategic economic development initiatives, including large-scale investments in logistics, healthcare, and light manufacturing.
Since the beginning of 2023, GREA Dallas has completed the successful marketing and sale of over $1.25B across 97 transactions, underscoring its momentum and leadership in the DFW multifamily market.
GREA is a national full-service multifamily advisory firm. GREA offers a personal, hands-on, client-driven approach that understands how to tailor solutions to the needs of each investor. GREA aims to help its clients achieve their real estate goals by leveraging its local expertise with the network’s global reach, knowledge, experience, expertise, creativity, and connections.
