VaultCap Partners completed the purchase of Solon Place Apartments, a 120-unit multifamily property located at 1000 Solon Place Way in Waxahachie, Texas, from MacDonald Companies.
The sale represents the third asset in which NorthMarq has represented VaultCap Partners this year. Corey Place, 275 units in Grand Prairie Texas (April 7, 2021) and Townhomes at Bluebonnet Trails, 56 units in Waxahachie, Texas.
The property benefits from close proximity to three shopping centers all within 1.1 miles and easy access to HWY’s 287 and 77, and Interstate 35. The nearby roadways make a commute to Dallas possible in under 30 minutes. Community amenities include: Courtyard, pool, on-site maintenance, elegant landscaping, laundry facilities, playground, pet-friendly policy and community events. Apartment amenities include: Fully-stocked kitchens, private patio/balcony, wood burning fireplace, central air/heat, large storage units, cable ready/internet ready, vinyl wood flooring, ceiling fan, washer/dryer connections, walk-in closets and resurfaced countertops.
NorthMarq’s Dallas Investment Sales team of Taylor Snoddy, Managing Director, James Roberts Senior Vice President, Phillip Wiegand, Senior Vice President and Eric Stockley, Senior Associate brokered the sale. NorthMarq’s Dallas Debt/Equity Vice President Will Hancock arranged a 3-year interest only bridge loan for the property through a private capital provider.
