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Cross Border News  + Apartments  |  May 1, 2025
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By: Monte Stewart

BSR Completes Sale of Dallas Portfolio for $431.5M

BSR REIT has finalized the sale of six apartment properties in Dallas to AvalonBay Communities for $431.5 million.

The properties comprise 1,884 units altogether. Under a previously announced “contribution transaction,” Toronto-based BSR received US$193 million in cash and used a portion to extinguish all mortgage debt on the six properties.

The sale was part of a larger US618.5M deal covering nine Texas multi-family properties: Six in Dallas and three in Austin. The $187-million Ausin portfolio was completed at the end of March.

BSR specializes in owning and managing garden-style multi-family residential rental properties in key markets across the Sunbelt region of the U.S.

Pictured: A Cielo apartment property in Austin.

Photo: UMove Free

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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.
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