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Colliers Closes Sale of North Texas Apartment Community

Magnolia on the Green_Hero

Provident Realty Advisors sells luxury multi-family community in one of the hottest, opportunistic multi-housing markets

Our Colliers Dallas Multi-Housing Advisors are pleased to announce the sale of Magnolia on the Green, a newly constructed multi-family community in Allen, Texas. This 326-unit property, which was developed by Provident Realty Advisors, was fully leased in less than one year.  Jorg Mast, Chris Paul and Danny Miller at Colliers represented the seller during the transaction.

 

“The project’s very strong performance is a great testament to its quality and positioning in the marketplace,” said Jorg Mast, executive vice president of multi-family investment sales.

 

Completed in 2020, Magnolia on the Green has a unique hybrid architectural design that includes both a large four-story building wrapping a structured parking garage and two three-story, surfaced parked buildings with tuck-under garages.  The twenty-three variations of one and two-bedroom open-concept floor plans feature high ceilings, expansive windows and modern designer finishes.

 

The property is part of Stacy Green, Provident Realty Advisors’ multi-phase, mixed-use development consisting of retail, office, multi-family and hospitality uses. This development is located at the southwest corner of U.S. Highway 75 and Stacy Road, one of Allen’s busiest retail intersections, home to a regional mall, a major power center and one of the premier outlet malls in the DFW metroplex.

 

“This is a fantastic location within a dynamic submarket,” said Chris Paul, executive vice president of multi-family investment sales.  “Allen is one of the area’s most popular rental submarkets, and Magnolia on the Green is located at one of its best intersections.”


Related Experts

Jorg Mast

Executive Vice President, Capital Markets

Dallas

Jörg Mast is a market expert with over 20 years of experience in commercial real estate. He is Executive Vice President at Colliers International where he leads the National Multifamily Investment Sales Team in Dallas/Fort Worth, Texas. The team covers Texas and select markets throughout the Central U.S. providing a full range of capital market services to its clients in the multifamily industry.  These services include investment sales, direct debt origination, land sales, and arranging JV equity for both acquisition and development.  Jörg has also been responsible for the development of various regional mixed-use developments such as Mockingbird Station in Dallas and So7 in Fort Worth.

Mr. Mast began his professional career in the hotel and restaurant business in Europe. He worked at the Hotel du Cap in Antibes, France and the Hotel Le Bristol in Paris, France, then was promoted to the management team of his family’s resort hotels in Germany - which are all members of the worldwide “Relais et Châteaux” association. 

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Chris Paul

Executive Vice President

Dallas

Chris Paul is a commercial real estate broker with over 30 years of experience providing transactional services exclusively to the multi-housing industry.  He is Executive Vice President at Colliers International where he is a co-leader of the Institutional Multifamily Investment Sales Team based out of the Dallas office. The team covers Texas and select markets throughout the Central U.S. providing a full range of capital market services to its clients in the multifamily industry.  These services include investment sales, direct debt origination, land sales, and arranging JV equity for both acquisition and development.

Previously, Mr. Paul founded and operated LaPaul Partners, a boutique commercial real estate investment advisory firm that specialized in the sale and financing of institutional grade multifamily properties in Texas and throughout the southern U.S. His extensive transaction experience totals more than 1 billion dollars and includes investment sales, land sales, structured financing, and joint venture equity financing predominantly within the multi-housing industry.

Prior to forming LaPaul Partners in 1988, Mr. Paul was a broker for John Dowdall and Associates where he was responsible for the sale of unimproved land for development and investment. Before that, Mr. Paul was a project leasing manager charged with leasing high-rise office buildings in Downtown Dallas for SPG International, an international commercial real estate development company.

Mr. Paul graduated from Southern Methodist University (SMU) with a Bachelor of Business Administration degree in Finance. He is a licensed real estate broker in the State of Texas and the State of Florida and a member of the North Texas Commercial Association of Realtors (NTCAR) and The Southern Methodist University Real Estate Society. In 1993, Mr. Paul was awarded the CCIM designation by the Commercial Investment Real Estate Institute of the National Association of Realtors and is currently an active member of the North Texas CCIM chapter and the North Texas Commercial Association of Realtors. Mr. Paul also has been a member of the National Multi Housing Council, which he joined in 1996.

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Danny Miller

Associate Vice President

Dallas

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