“SPI Advisory, along with its 1031 exchange partners, has acquired Ivy Urban Living, a 228-unit multifamily community in Dallas. The asset is subject to a $27 million CMBS loan from U.S. Bank, originated in 2020 by JLL and set to mature in 2030, according to Yardi Matrix data. Frontline Capital Partners sold the property, having purchased it in 2017, the same source shows.
Completed in 1988, the community comprises 11 three-story buildings which incorporate studio, one-, two- and three-bedroom floorplans ranging from 550 to 960 square feet. Apartments feature 9-foot vaulted ceilings and private balconies or patios, along with in-unit washers and dryers and wood-burning fireplaces in select layouts. Common-area amenities include a 24-hour fitness center, two swimming pools, a spa and six laundry facilities.”