Partnership sells Texas apartment property

A partnership between Harbert Management Corp. and Balfour Beatty Communities has sold the Villas of Josey Ranch, a 198-unit apartment complex in Carrollton, Texas. A sales price was not disclosed. HFF marketed the property on behalf of the seller.

The buyer was Domain Communities, a Houston-based private value-add multifamily real estate investment company. Domain has acquired, financed and asset managed more than 30 properties and 8,500 multifamily units since its formation, comprising more than $600 million in transactions.

Villas of Josey Ranch is situated on 12.37 acres at 2050 Keller Springs Road adjacent to Jimmy Porter Park. In addition, the community is proximate to numerous retail and entertainment options and notable economic drivers, including the Platinum Corridor, Telecom Corridor, Legacy Business Park and Cit