SWBC Real Estate sells multifamily portfolio for $350m
SWBC Real Estate, owned by SWBC Enterprises, a diversified financial services company providing insurance, mortgage and investment services to financial institutions, businesses and individuals, has sold five multifamily properties in Texas, part of the Royalton Portfolio.
The total sales price was $350 million.
The purchaser of the Dallas–Fort Worth area properties was Lightbulb Capital Group, the family office of Jay Schuminsky. The properties included the 300-unit The Royalton at Grand Prairie, Grand Prairie; the 271-unit Central Park at Craig Ranch, McKinney; the 271-unit The Royalton at Craig Ranch, McKinney; and the 295-unit The Royalton at Rockwall Downes, Rockwall.
Brixton Capital purchased the Austin Property, the 300-unit The Royalton at Sunfield in Buda.
“It’s apparent that there is still a very aggressive appetite for new multifamily properties in the Dallas and Austin markets, as there was a large amount of interest in the sale of these