SARES•REGIS Multifamily Value-Add Fund III, L.P. (SRMF VA-III) acquired Silverado Apartments (“Silverado”), marking SRMF VA III’s first investment in Texas. The property is located in the north Dallas suburb of Frisco. Built in 2000, the property features 332 units. Resident amenities include a swimming pool, fitness center, resident clubhouse, a sports court, picnic area with barbecue grills, and a business center.
The property offers one, two, and three-bedroom floorplans, some of which include an attached or detached garage. Residents also enjoy central air conditioning, private patios or balconies, wood-burning fireplaces, oversized walk-in closets, vinyl plank flooring, and washer & dryers.
Silverado presents an excellent opportunity to take a well-located community and perform a value-add enhancement program to create an upscale lifestyle opportunity at an affordable price point to newer products in its submarket.