Barings Acquires 278 Unit Apartment Complex in Plano, Texas
Barings, one of the world’s largest diversified real estate investment managers, announces the acquisition of Junction 15, (the “Property”) on behalf of an institutional investor. The Property, a 278-unit, five-story apartment complex constructed in 2015 is located in Plano, a suburb of Dallas, Texas.
Junction 15 features multiple on-site amenities, more than 7,600 square feet of retail space and 350 parking spaces. The Property is well-located in historic downtown Plano, an urban setting within a suburban area that is a growing employment hub and home to many world-famous corporate headquarter locations.
John Ockerbloom, Barings Head of U.S. Real Estate Equity said, “Our acquisition of Junction 15 provides an excellent opportunity to acquire a recently completed, fully-leased property in a location attracting significant new employers, with walkable amenities including retail, restaurants, parks and public transit, all at an attractive basis.”
Residents benefit from proximity to numerous shops, green space, entertainment venues and major employment nodes. The Property is located across the street from McCall Plaza which hosts numerous concerts and cultural events year-round. Junction 15 is a transit-oriented development adjacent to the Downtown Plano DART station.
Barings Real Estate
Barings Real Estate (BRE) offers a broad range of global investment opportunities across the private debt and equity real estate investment markets. BRE invests in all major property sectors and offers a broad range of financing solutions to real estate borrowers. BRE also specializes in providing government and government-sponsored entity lending products through our wholly owned subsidiary, Barings Multifamily Capital. Follow us on LinkedIn at www.linkedin.com/showcase/barings-alternative-investments.
Barings is a $338+ billion* global financial services firm dedicated to meeting the evolving investment and capital needs of our clients and customers. Through active asset management and direct origination, we provide innovative solutions and access to differentiated opportunities across public and private capital markets. A subsidiary of MassMutual, Barings maintains a strong global presence with business and investment professionals located across North America, Europe and Asia Pacific. Learn more, at www.barings.com.
*As of December 31, 2019