Thursday, January 09, 2014

Huge apartment development coming near tollway in Far North Dallas

The Aura Prestonwood apartments will have 650 units. (Trinsic)

Apartment developer Trinsic Residential Group – in partnership with a unit of Hunt Realty Investments – is building a large development near the Dallas North Tollway in Far North Dallas.

Trinsic is buying more than 11 acres on Arapaho Road at Knoll Trail where it is building 650 apartments in two phases of construction. The project will be called Aura Prestonwood.

“This opportunity is consistent with our investment philosophy to be near major jobs centers and retail locations with outstanding access to major thoroughfares,” said Trinsic managing director Brian Tusa.

Trinsic already has three apartment communities under construction in Dallas in the Oak Lawn area.
The company is currently building 1,500 apartments valued at more than $175 million.

Its partner in seven of the investments is Akard Street Partners, a partnership operated by Hunt Realty Investments.