A three-property multifamily portfolio comprising more than 1,000 units has been sold in Plano, Texas, for an undisclosed amount.
The properties, which include Legacy Village, Lakeside at Legacy Village and Acqua, comprise a total of 1,043 units within Legacy Town Center, a mixed-use development with high-end retail shops, restaurants, a five-screen theater, a full-service Marriott Hotel and class A office space.
UDR Inc. purchased the portfolio on an all-cash basis from a partnership between GE Asset Management and Columbus Realty Partners Ltd.
Completed between 2003 and 2007, the properties were 95 percent occupied overall at the time of sale and feature amenities such as jogging trails, swimming pools, 24-hour fitness centers, a clubhouse, game room and business center.
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