San Antonio-based EMBREY has acquired an approximately 18-acre site at the northwest corner of U.S. 287 and Dillon Road in Lafayette for $38.5 million, with plans to advance the first phase of the entitled Sundar multifamily development.
CBRE arranged the transaction, representing seller Milestone Development Group. Martin Roth and Eric Roth of CBRE represented Milestone.
Milestone acquired approximately 36.14 acres at the site in 2018 and subsequently entitled the property as Sundar Phases I & II, a planned 684-unit multifamily development. Embrey’s acquisition includes Phase I, which is approved for 324 apartments, along with site-work improvements and related entitlements. Phase II is approved for an additional 360 units. The overall project includes a clubhouse and outdoor pool for each phase, according to the City of Lafayette…