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BSR REIT acquires two communities in core Texas markets for $129m
Transactions - DECEMBER 23, 2020

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BSR REIT acquires two communities in core Texas markets for $129m

by Released

BSR REIT has acquired Vale Luxury Apartments in the Houston metropolitan statistical area (MSA) and Satori Frisco Apartments in the Dallas MSA for a total of $129 million.

Vale is a newly constructed garden-style community consisting of 350 apartment units and is currently in the lease-up phase. The community includes multiple amenities including a resort-style swimming pool, drive-through mail kiosk, fitness center, dog park, car care center and direct garage/ground floor entry for every apartment unit. Vale is already 55.1 percent leased and is expected to be accretive to the REIT’s adjusted funds from operations (AFFO) on a per-unit basis as lease-up continues.

Satori Frisco is a garden-style community consisting of 330 apartment units, constructed in late 2019. Its features include attached direct-access garages, a resort-style swimming pool, two-story fitness center, car care center, dog park, granite countertops and a private access gate. Satori Frisco is curre

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