A joint venture between a subsidiary of Cantor Fitzgerald Income Trust, Inc. (“CF Income Trust”), and affiliates of Cantor Fitzgerald, L.P. (together with its affiliates, “Cantor Fitzgerald”) and CAF Management, LLC (“CAF”), acquired a 304-unit Class A multifamily property known as Keller Springs Crossing located in Carrollton, a submarket of Dallas, TX. The acquisition closed February 25, 2021 and is the third multifamily acquisition by joint ventures between Cantor Fitzgerald sponsored companies and CAF in the greater Dallas area.
The property is strategically located near Dallas North Tollway and President George Bush Turnpike, with easy access to DFW international Airport and major employment centers including the Platinum Corridor, Telecom Corridor, I-90 Corridor, and the Dallas Central Business District. Nearby downtown Carrollton offers commuters multiple light rail transit options with Dallas Area Rapid Transit (DART) and service to Denton using the Denton County Transportation Authority (DCTA). In addition, Keller Springs Crossing is minutes from popular shopping and country club options as well as parks and wooded areas.
Built in 2015, the property features 13 different floor plans with an average unit size of 841 square feet. Community amenities include a fitness center, resort-style swimming pool, game room, business center, and a pet park. As of February 24, 2021, the property was 92.4% leased, which is consistent with the Carrollton submarket that averaged 93.8% occupancy during Q3 2020.
Cantor Fitzgerald’s real estate investment management portfolio currently includes 4,325 multifamily units in addition to over 6.8 million square feet of office, industrial, and retail space across 116 properties. In 2020, Cantor Fitzgerald participated in more than $72.3 billion of total real estate transactions.
