CBRE Capital Markets’ Investment Properties announces the sale of Huntington Cove, a 100-unit townhome community in Farmers Branch, Texas. Huntington Cove Townhomes, LLC purchased the asset from SPI Advisory for an undisclosed price.
Chris Deuillet, Danny Baker, and Chandler Sims of CBRE’s Dallas office represented the seller.
Huntington Cove, at 14802 Enterprise Drive, was built in 1982 and is conveniently located just south of Beltline Road and west of Marsh Lane in North Dallas. It was 96 percent occupied at closing.
“With Huntington Cove’s location being just west of Addison and the majority of units not yet accomplishing their full potential, the buyer will be able to add immediate value within the first year of ownership,” said Mr. Deuillet, senior vice president, CBRE. “Well-located properties are still very much in demand and assumable financing has become much more attractive with the increase in interest rates over the past few months.”
Huntington Cove is located near Farmers Branch Park, Farmers Branch Aquatic Center, and Brookhaven Country Club. Community amenities include a swimming pool and on-site maintenance.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2018 revenue). The company has more than 90,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 480 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
