Himalayan Ventures has sold St. Paul’s Square at Adriatica Village, a 211-unit apartment complex with 9,842 square feet of retail space in McKinney, Texas.
The buyer is Draper and Kramer. A sales price was not disclosed.
“This unique apartment and retail investment provides new ownership with multiple income streams and residents benefit from having great retailers within walking distance,” said Will Balthrope, Institutional Property Advisors (IPA) executive managing director, which, represented the seller and procured the buyer.
Tommy Lovell, III, IPA senior managing director, added,“St. Paul’s Square offers residents top-of-the-market amenities and a prime location within the Adriatica Village master-planned community, which is close to major retail, entertainment and employment drivers.”
Constructed in 2015, the property is positioned a few blocks off Virginia Parkway, one of the most heavily traveled thoroughfares in the city, and five miles from historic downtown McKinney. Craig Ranch, which includes a $100 million luxury Marriott Autograph Hotel and Conference Center, a 131-acre class A office park, and the TPC Craig Ranch golf course, is 10 minutes away.
“The 19th-most populous city in Texas, McKinney is consistently rated as one of the best places to live in the Metroplex,” said Joey Tumminello, IPA director.
