An affiliate of Lone Star Value-Add Fund I, managed by Lone Star Funds, has completed the sale of Reserve at Spring Creek, a 458-unit multifamily community in Richardson, Texas, to MG Properties.
Originally acquired as part of Lone Star’s broader multifamily investment strategy in the Dallas-Fort Worth metroplex, Reserve at Spring Creek benefits from its highly accessible location within the Telecom Corridor submarket and its proximity to major employment centers, retail amenities and regional transportation infrastructure. Under Lone Star’s ownership, the property also significantly enhanced its offerings with upgraded amenities and resident features.
“Reserve at Spring Creek represented an opportunity to invest in a well-located multifamily asset within one of the strongest residential markets in the country,” said Jérôme Foulon, global head of commercial real estate at Lone Star. “Through targeted asset management initiatives and continued operational fo
