An affiliate of Lone Star Real Estate Fund VI has sold three multifamily properties across Texas which were sold to three separate buyers. Financial terms of the transaction were not disclosed.
The entire portfolio totaled 606 property units: a 208-unit garden-style multifamily community built in 2004 and located in Lubbock, Texas; a 214-unit garden-style multifamily community built in 2013 and located in Midland, Texas; and a 184-unit garden-style multifamily community built in 2004 and also located in Lubbock, Texas.
Lone Star acquired the properties in 2022 and since that time has worked to implement disciplined asset management strategies, focused on targeted operational and physical improvements to the properties designed to strengthen occupancy and improve the overall resident experience.
“We saw an opportunity in these assets to focus on providing better services, amenities and an overall higher-quality living experience to residents. This transaction u
