GRAND PRAIRIE, Texas — Greysteel has arranged the sale of Wright Senior Apartments, a 154-unit affordable seniors housing property in Grand Prairie, just west of Dallas.
Initially constructed in 2005, community includes 123 rent-restricted affordable units and 31 market-rate units in a mixture of studio, one- and two-bedroom units.
The buyer, an experienced affordable housing owner, will continue to operate the community as an affordable housing community per the terms of the LIHTC LURA. The buyer assumed the seller’s existing HUD loan.
Murphy Holloway and Doug Banerjee of Greysteel’s National Affordable Housing team represented the seller and procured the buyer.
‘’As the DFW Metroplex continues to grow in population, so does our housing shortage,” says Holloway. “Wright Senior represents a perfect example of the power of the Low-Income Housing Tax Credit system to build and preserve high-quality homes for some of our most vulnerable citizens.’’