The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, has announced the sale of Birchwood Apartments, a 236-unit garden-style multifamily community built in 1977 and located in Lubbock, Texas.
Yonnic Land represented the seller, Benefit Street Partners, while Jon Krebbs sourced the buyer, an out-of-state investor completing their first purchase in Texas. The transaction closed in 60 days, with non-refundable earnest money delivered on day one.
“Benefit Street is fantastic to work with, and this marks our second closing with them and our third REO sale this year,” said Land. “Finding the right buyer is what our company does best, and that allows our Debt Fund clients the flexibility they need to bring these transactions across the finish line,” added Krebbs…