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S2 Capital sells 229-unit Plano rental community via Newmark
The property, Hathaway at Willow Bend at 2525 Preston Road, sold with acquisition financing arranged for the buyer, Granite Towers Equity Group.
Newmark arranged the sale and financing of Hathaway at Willow Bend, a 229-unit multifamily community at 2525 Preston Road in Plano, Texas, according to ConnectCRE.
The seller, S2 Capital Acquisitions, was represented in the transaction by Richard Furr, Brian O’Boyle Jr., Brian Murphy, and Jack Forman, while Newmark listed Brian Kochan and Michael Caglianone as handling acquisition financing for the buyer, Granite Towers Equity Group.
The garden-style property offers one-, two- and three-bedroom residences, including a range of townhome floor plans. Amenities highlighted in the deal include two swimming pools, an outdoor kitchen, a bark park, a natural creek setting, and a fitness center, while apartment interiors include gourmet kitchens and wood-burning fireplaces.
ConnectCRE also pointed to Newmark Research data saying the Dallas-Fort Worth multifamily market is supported by strong demographic and employment fundamentals, including more than 604,400 jobs added from 2019 through 2026, a 16.3% increase.