Behringer Harvard today announced its acquisition of a 3.9-acre tract in Victory Park, the large mixed-use development surrounding American Airlines Center in Dallas. In partnership with Mill Creek Residential Trust, it’s developing a 377-unit multifamily complex called The Arpeggio Victory Park. Construction of the complex is under way.
Mark T. Alfieri, chief operating officer of Behringer Harvard Multifamily REIT I Inc., said in a statement that the prime location should appeal to business professionals.
The complex will consist of two five-story buildings wrapped around a central parking garage. Both one- and two-bedroom units will be available.
Mill Creek’s construction entity, MCRT North Texas/Mountain States Construction LLC, will serve as the general contractor.
Behringer Harvard’s Multifamily REIT I portfolio includes stakes in 48 multifamily communities in 14 states totaling 13,013 units.