SPI Advisory, along with its 1031 exchange partners, has acquired the Dallas multifamily property Ivy Urban Living. This marks SPI’s 44th acquisition in the DFW metroplex since 2014.
Multihousing News reports that this 228-unit asset is subject to a $27 million CMBS loan from U.S. Bank originated by JLL in 2020 and set to mature in 2030 according to Yardi Matrix data. The seller was Frontline Capital Partners who purchased it back in 2017.
Completed back 1988, this community consists of 11 three-story buildings housing studio, one-, two- and three-bedroom floorplans ranging from 550 – 960 square feet featuring 9 foot vaulted ceilings and private balconies or patios as well as select layouts with wood burning fireplaces and washers/dryers inside units . Common area amenities include a 24 hour fitness center , 2 swimming pools , spa & 6 laundry facilities located near Highway 75 & Interstate 345 just 2 miles away from downtown Dallas at 4211 Cabell Drive .
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