DALLAS, TX – Pinnacle, one of the nation’s leading multifamily management firms, announced today it has been selected by L&B Realty Advisors to manage The Avery on Southwestern apartment community in Dallas.

The 422-unit modern urban village is ideally positioned at 8910 Southwestern Boulevard, approximately one mile from NorthPark Center, one of the most prominent upscale shopping malls in the world. Near the intersection of Northwest Highway and Skillman Street, the community borders some of the wealthiest zip codes in the city and has immediate access to major thoroughfares, several million square feet of name brand retail, fine dining, entertainment, world-renowned hospitals and recreation.

“The Avery is in an iconic location surrounded by some of the best amenities in the city. Residents have an opportunity to live within this highly desired trade area, near the shores and trails of White Rock Lake, at a very reasonable price,” said Toni Rials, Pinnacle regional vice president. “Pinnacle is in the process of making upgrades to some of the common facilities to meet all the expectations of the market, making this one of the best living opportunities in the area.”

Residents can choose from seven different floorplans at The Avery with one-, two-, or three-bedroom apartment options. Each amenity-rich home is framed with contemporary features inside and out. From hotel style pools and floating tanning decks to a clubhouse bar with a media center, the pet-friendly community provides interactive gathering places and tranquil settings conducive to both a social and comfortable lifestyle.

Pinnacle Property Management Services is a privately held national real estate provider specializing in third party management of multifamily residential communities. As one of the nation’s preferred third-party managers, Pinnacle’s portfolio includes approximately 147,000 residential units and 2.1 million square feet of commercial assets.

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FORT WORTH, TX – Ventures Development Group closed its $29 million loan and commenced construction on the development of a 247-unit apartment community located at 3090 Outlet Parkway in Grand Prairie, Texas. The location is virtually equidistant to Fort Worth and Dallas, offering immediate access to all major roadways within just minutes.

Leasing is expected to start in the Spring of 2017, with completion of the property expected by the fall of 2017. The project is located at the northeastern quadrant of I-20 and Texas Hwy. 360.

The mix of one, two and three bedroom floorplans will include premium flooring, custom kitchens with granite countertops, in-unit washers and dryers, along with other luxury finishes. Interior and exterior amenities will include a state-of-the-art fitness center, clubroom and tenant lounge, resort inspired swimming pool and sundeck, outdoor spaces with meeting, gaming and barbecue facilities, and a structured parking garage with direct access to all residential units. Units will range in size from 650 to 1,400 sq. ft. The project was designed by Humphreys & Partners Architects.

Realty Capital Partners, based in Dallas, provided a part of the equity capital, and Realty Shares, based in San Francisco, California provided the preferred equity capital. Dougherty Mortgage provided the construction and permanent financing. Leasing and marketing efforts will be managed by Stream Residential, a division of Stream Realty Partners.

Rob McConnell, Principal of Ventures Development, said the development will provide much needed, quality apartment homes along the quick-growing Arlington/Grand Prairie corridor along Interstate 20. “We believe there’s a fantastic desire for an upscale, multi-family community in this area with amenities, accommodations and finishes typically found only in luxury units, but at highly affordable prices.”

Ventures Development is a fully-integrated multi-family development firm with offices in Baton Rouge, LA and Jacksonville, FL. This is the firm’s 4th ground-up multi-family development in DFW since 2011.

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