Greysteel, a national commercial real estate investment services firm, has been named exclusive advisor and agent by Cedar Square Apartments LLC for the sale of Cedar Square, a multifamily property located in the North Oak Cliff neighborhood of Dallas, TX.

Greysteel Managing Director, Boyan Radic; Senior Director, Doug Banerjee; Investment Associate, Andrew Mueller; and Junior Investment Associates, Ryan Hill and Andrew Hanson; who are all based in the Company’s Dallas-Fort-Worth office, are marketing the property.

Cedar Square, built in 1963 and 1965, is a 116-unit multifamily property located at 404 Andrews Avenue in Cockrell Hill, a suburb of Dallas. 43 of the units have been recently renovated, while the remaining 73 provide new ownership with the opportunity to realize significant upside in cash flows through continued interior renovations. Community amenities include picnic areas and barbeque grilling stations.

The multifamily property is conveniently located in the developing North Oak Cliff neighborhood of Dallas, which currently has 1.5 million square feet of retail, healthcare, industrial, and multifamily space planned or under construction. The property offers easy access to multiple transit options including public transportation via DART bus routes 011 and 542, located just one away. Interstate 30 is two miles north of Cedar Square allowing residents to access other major transportation corridors including 1-35, SH-12, the Dallas North Tollway, I-45, and I-75.

“Cedar Square is being offered free and clear of debt and has additional upside for a new buyer to continue renovating the remaining units, many of which already have ceramic tile flooring installed from previous ownership, which significantly reduces the average cost to renovate a unit,” said Mr. Banerjee. “This is a perfect investment opportunity for someone looking obtain significant returns immediately with favorable financing terms available for a new acquisition,” he added.

About Greysteel:

Greysteel is a commercial real estate and capital markets services firm with seven offices located in Los Angeles, CA; Washington, D.C.; Baltimore, MD; Philadelphia, PA; Dallas, TX; and Fort Worth, TX. Greysteel serves and advises private and institutional real estate investors and developers in the marketing, sale, and financing of private capital and middle-market real estate assets. www.greysteel.com