Multifamily Private Equity Firm Expands Texas Footprint With Apartment Acquisition

Multifamily Private Equity Firm Expands Texas Footprint With Apartment Acquisition

Anthony Mallozzi, CoStar Group | December 20th, 2023

 

SPI Advisory Purchases Main Street Lofts in Mansfield from Realty Capital

MSL

MAIN STREET LOFTS, located at 715 N. Main St. in Mansfield, offers studio, one-, two- and three-bedroom apartments. (CoStar)

“SPI Advisory, a multifamily private equity firm based in Dallas, has recently acquired Main Street Lofts, a 266-unit apartment complex in Mansfield, Texas. According to SPI, this is its fifth apartment acquisition for the year.

The firm purchased Main Street Lofts, located at 715 N. Main St., from Realty Capital of Irving for an undisclosed sum. The property was last valued at $49 million, according to the Tarrant Appraisal District. The Class A apartment complex was 9.8% vacant at the time of the sale.”

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