AN AFFILIATE OF WALTON STREET ORIGINATES A LOAN TO AN AFFILIATE OF RANGEWATER AND AMERICAN REALTY ADVISORS FOR THE FINANCING OF ELE APARTMENTS
Walton Street Capital
A hands-on private equity firm solely focused on real estate equity and debt investments
An affiliate of Walton Street originates a loan to an affiliate of RangeWater and American Realty Advisors for the financing of Ele Apartments, a 236-unit multifamily community in Dallas, TX
Chicago, IL, August 23, 2024 – An affiliate of Walton Street Capital, L.L.C. (“Walton Street”) originated a loan to an affiliate of RangeWater and American Realty Advisors for the financing of Ele Apartments (the “Property”), a 236-unit Class-A apartment project located at 5714 Richmond Ave. in the Lower Greenville submarket of Dallas, TX.
The 2023-vintage Property, a midrise multifamily community, is currently 91.1% occupied. The Property includes a variety of studio, one, and two-bedroom floorplans, with an average unit size of 816 SF. All units feature open-concept floorplans with stainless steel Whirlpool appliances, walk-in closets, Nest thermostats, and Latch smart locks. Top-of-market community amenities include an outdoor resort style pool, modern fitness center, private workspaces, and a rooftop lounge.
The Property, located just off Greenville Avenue, is walkable to several restaurants, bars, and grocery stores, including Trader Joe's, Whole Foods, Sprouts, and Sam's Club. Lower Greenville is a high demographic residential area with average home values of $700K+, and median household income of $100K+. Under five miles from the Downtown core of Dallas, the Property is commuter friendly and surrounded by over a dozen parks.
In 2024, Walton Street affiliates have closed or are in the process of closing over $629 million of loans on rental housing assets. Ele Apartments, a newer vintage, high-quality multifamily community in a market with strong demand fundamentals, is representative of Walton Street Capital’s current core lending strategy for multifamily assets.
About Walton Street Capital, L.L.C.: Walton Street is a private equity real estate investment firm that, since its inception in 1994 through its affiliates, has raised nearly $17 billion of capital commitments from a broad cross-section of sophisticated institutional investors. Walton Street has acquired, financed, managed, and sold more than $55 billion of real estate. Senior management has collectively invested and managed both real estate equity and debt through several real estate cycles over 40 years, forging long-term and deep relationships with lenders, public and private real estate owners, operators, brokers, managers, and industry service providers. Through this diverse network, Walton Street has sourced over $14 billion in lending opportunities for its affiliates since inception. Walton Street’s core lending strategy provides efficient debt capital targeting newer vintage, income-producing real estate assets, spanning a range of property types in major U.S. markets. For more information, visit waltonst.com.
About RangeWater: RangeWater is a fully integrated multifamily real estate company creating fulfilling experiences for its partners, clients, residents, and employees across the Sun Belt and Mountain West. With a diversified portfolio of multifamily, build-to-rent, and mixed-use real estate assets, the Atlanta-based company has acquired and developed more than 35,700 multifamily units since its inception in 2006, representing $6.9 billion in total capitalization. RangeWater blends local market knowledge and subject matter expertise to create places and experiences that redefine community, currently managing a portfolio of approximately 90,000 multifamily units across 13 states. With offices in Atlanta, Charlotte, Dallas, Denver, and Tampa, RangeWater targets high job growth markets with demand for new housing. For more information, visit LiveRangeWater.com.
About American Realty Advisors: American Realty Advisors, LLC ("ARA") is a private equity real estate investment manager of institutional quality commercial real estate portfolios with more than 600 investors and over $11.3 billion in assets under management as of 6/30/24. ARA is 100% employee owned and client focused. More information regarding ARA can be found at www.aracapital.com.