The land is located in the northeast quadrant of White Avenue and Community Avenue. The acreage has existing multifamily zoning in place and the new owner, Community 12 Investors, LLC, plans to develop it into a multifamily residential community.
Development and construction plans are yet to be determined. This will be Community 12 Investors’ first multifamily development in Texas.Representing Community 12 Investors, LLC in this transaction was Austin Reilly of Land Advisors Organization. Henry S. Miller Brokerage’s SVP, Tom Grunnah of the Dallas-Fort Worth Land and Investments Division arranged the disposition for owner KPEG Real Estate Fund, Inc.
Town Square Buzz July 11, 2012
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