MG Properties, a multifamily investment and property management firm, has acquired Reserve at Spring Creek, a multifamily property located in Richardson, Texas, from an affiliate of Lone Star Value-Add Fund I LP.
The asset was originally acquired by Lone Star as part of its broader multifamily investment strategy in the Dallas-Fort Worth metroplex. Reserve at Spring Creek is a 458-unit apartment community located within Richardson’s Telecom Corridor submarket, a major employment hub in the Dallas-Fort Worth region. The property benefits from access to major transportation infrastructure, retail amenities and nearby employment centers.