New York City-based Ashcroft Capital bought the 447-unit Eagle Crest Apartments in Irving, according to Dallas County deed records.
Though terms of the deal were not disclosed, the buyer took out a $44.2 million loan from CBRE Capital Markets to make the purchase, according to county records. The property was sold by an entity connected with Dallas-based NexPoint Real Estate Advisors, who had owned the property since 2014.
Located at 4013 W. Northgate Drive in Irving, the complex was built in 1982 and features one- and two-bedroom units ranging from 701 square feet to 1,137 square feet. The complex was last renovated in 2013. Amenities include a pool, fitness center and cyber cafe. Ashcroft is rebranding the property as The Devin on Northgate, according to its website.
Read the full story at Dallas Business Journal.