A BlackRock unit bought a 330-unit residential community in Broadstone Knox, an emerging Dallas neighborhood.
BlackRock Realty Advisors bought Broadstone Knox District, at 4444 Cole Avenue, according to Dallas Morning News. Developed by Alliance Residential in 2020, the complex is near restaurants and luxury retail.
Rents start at almost $1,300 a month, below average for Dallas. The complex has amenities that include a resort-style pool, dog park, pet spa, and EV charging stations, the Morning News reported. Michael Ware, Drew Kile, Taylor Hill, Joey Tumminello and Jeff Kindorf of Institutional Property Advisors brokered the sale.
Knox Henderson is primarily home to young professionals. The area has drawn investment from investors and developers including Fortress Investment and billionaire Michael Dell’s MSD Capital, the area’s biggest landlord.
Blackrock Realty Advisors has 46 employees and generates $26 million of annual sales. The firm focuses mostly on Asian property markets and emerging urban neighborhoods.