Lion Real Estate Group, an investment firm focused on multifamily properties in the Sun Belt states, has acquired District 2308, a Class B 240-unit multifamily property located in Arlington, Texas.
The financial terms of the acquisition were not disclosed. The company said it planned to renovate all of the unit interiors with stainless steel appliances, quartz countertops, new flooring, refreshed paint and other upgrades, and it would also make improvements to amenities and common areas at the property.
“District 2308 is our second acquisition in our third discretionary fund and represents an incredible opportunity for us to bring our proven, value-add program to another asset in the robust Dallas-Fort Worth Metroplex,” said Ben Kriegsman, director of acquisitions. “Lion now owns 2,226 units in DFW, and we are committed to growing our portfolio across the Sun Belt and Southeast by acquiring additional communities at an attractive basis.”
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