trending Market Intelligence /marketintelligence/en/news-insights/trending/3-iZAqJOy8tEN3vNFJld-g2 content esgSubNav
In This List

BSR REIT buys Texas apartment complex for US$45M

Blog

Corporate Credit Risk Trends in Developing Markets An Expected Credit Loss ECL Perspective

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition


BSR REIT buys Texas apartment complex for US$45M

Canada-based BSR Real Estate Investment Trust closed its US$45.2 million acquisition of the Riverhill Apartments complex in Grand Prairie, Texas.

The 334-unit multifamily property was built in 1995 on a roughly 16-acre site, and encompasses four four-story and 11 three-story apartment buildings, with an average monthly rent of about US$1,067 per unit. The complex also includes office and clubhouse space, a fitness center and other amenities.

The REIT used its revolving credit facility to fund the transaction, according to a release.

The asset is expected to be immediately accretive to the company's adjusted funds from operations on a per-unit basis.

BSR's portfolio now includes 50 multifamily properties comprising 10,450 units.