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The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, announces the sale of Lions Run Apartments, a B-Class asset in Harker Heights, TX outside of Killeen. TMG Managing Partner Paul Yazbeck and Vice President Will Clarke worked with the Dallas-based seller and buyer on the transaction.
People interesting in multifamily brokerage services can visit The Multifamily Group s website at https://multifamilygrp.com/
Lions Run was constructed in 1984 and completed in 1985. It is strategically located off Central Texas Expressway, granting residents quick and easy access to major employment hubs and destinations such as H-E-B, Target and other major retailers.
Realtor.com recently named the Killeen market one of the 10 markets where home prices are unstoppable, and Killeen s population is projected to grow 23% over the next 11 years, per the Texas Water Development Board. This expected growth is attributed to job growth in Central Texas and the lower cost of living compared to major metros like Austin.
The median home price in Killeen is currently $205,000, compared to Austin s median home price of $349,100. Killeen has attracted a plethora of people who prefer to get more for their money and make the commute down to Austin. $150,000 in Killeen can secure a three-bedroom ranch home. Cities like Killeen will only continue to benefit as affordability continues to be an issue in major metros like Austin.
Paul Yazbeck was an Army Officer with 1st Cavalry Division and was stationed at Fort Hood, TX in Killeen for five years. I witnessed growing demand from new apartment investors entering Killeen market over the last few years, Yazbeck said. These owners have been successful in implementing value-add strategies to renovate untouched multifamily properties. Investors continue to seek out secondary markets like Killeen as cap rates continue to compress in major markets such as Austin, Dallas and Houston.
This is The Multifamily Group s 7th closing in the Killeen market in the past 17 months, totaling 920 units. The Multifamily Group currently has two escrows in Killeen, totaling 450 units. To further discuss the Central Texas or Killeen Multifamily Market, please contact Will Clarke at #469-250-9714 or will.clarke@multifamily.grp.com or Paul Yazbeck at #972-379-9844 or paul.yazbeck@multifamilygrp.com.
Release ID: 490978