Toronto-headquartered BSR Real Estate Investment Trust (TSX: HOM.U, HOM.UN) announced that it has purchased The Ownsby Apartments in the Dallas submarket of Celina, Texas submarket for $87.5 million.
Completed earlier this year, The Ownsby comprises 368 apartment units, including one-, two-, and three-bedroom suites. Property amenities include a resort style pool, movie theater, modern fitness center, golf simulator, private offices, bike storage and pet spa.
“The addition of another high quality, newly developed lease-up property in a fast-growing Texas submarket is the perfect complement to our portfolio,” said CEO Dan Oberste. “The Ownsby will be another example of a community that can benefit from the BSR platform’s proven ability to maximize value through predictable rotations into best-in-class investments in Texas.”
