Blue Ocean, a Maryland-based real estate investment firm, acquired a 131-unit residential community in Richardson, Texas under its TRELLIS brand.
RICHARDSON, Texas, April 18, 2023 /PRNewswire-PRWeb/ -- Blue Ocean's TRELLIS platform will be growing its presence in the Dallas, Texas suburbs with its latest acquisition. The Maryland-based real estate investment firm, in partnership with Range Summit Capital, acquired a 131-unit residential community in the Canyon Creek neighborhood of Richardson, Texas. The community will be re-positioned and re-branded over the coming months under the Company's high-end "TRELLIS" brand, known as TRELLIS Canyon Creek.
The North Dallas community consists of 5 buildings, with two and three-story garden-style construction and is situated on over 5 acres. The property sits at the entrance to the well-established Canyon Creek residential neighborhood as well as along North Central Expressway (I-75) and nearby President George Bush Turnpike (190) providing exceptional access throughout DFW.
TRELLIS Canyon Creek marks the sixth acquisition for Blue Ocean under the TRELLIS platform since early 2021. Evan Gallant, CIO & Principal for Blue Ocean, stated "We're thrilled to be expanding our portfolio in North Dallas. Executing a deal of this nature, considering the current economic environment, is an incredible accomplishment for our team. We're confident that TRELLIS will be a great neighbor and contributor to the Canyon Creek and Richardson communities."
About Blue Ocean Investments:
Founded in 2004, Blue Ocean is a real estate investment firm, headquartered in Owings Mills, Maryland. The company is active in a variety of sectors within the real estate industry including Multifamily, industrial, hospitality and self-storage sectors. The current portfolio spans the Sun Belt, Mid-Atlantic and the Mid-West. http://www.blueocean.com
About Range Summit Capital:
Founded in 2017, Range Summit Capital is an equity investment firm based in Denver, Colorado. Range's strategy is focused on opportunistic investments in middle-market real estate assets. Range provides structured equity investments – both preferred and joint venture equity – to real estate sponsors nationwide and across all major asset classes. http://www.rangesummit.com
Media Contact
Monica Kolbay, ArachnidWorks, Inc., 240-285-9844, [email protected]
SOURCE Blue Ocean Investments
Share this article