The two-year-old Gray Branch apartments in McKinney have sold to Chicago-based Magellan Investment Partners.
Chicaago-based Magellan Investment Partners has purchased the Gray Branch apartments in McKinney.A Chicago-based investor has snapped up a McKinney rental community. The Gray Branch apartments were built in 2020 at 1760 N. Ridge Road near U.S. Highway 380.
The 300-unit rental project was built by Dallas-based Cross Development and Kalterra Capital Partners. Units in the property range from 597 to 1,260 square feet. The apartments were just acquired by Magellan Investment Partners, a 5-year-old multifamily investor that owns properties in six states. The company also owns the Gateway Crossings apartments in Plano and rental units in the Austin and Houston areas.The McKinney transaction is the latest Dallas-Fort Worth apartment sale.— Jefferson Terrace — just sold to an affiliate of California-based Arnel Management.
Through the first nine months of this year, investors have purchased more than $18 billion in D-FW apartment properties — the most of any U.S. metro area, according to a
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