Acron invests in Texas
Acron AG has acquired a luxury real estate project with 319 apartments in Texas. The total investment volume is 60 million US dollars.
Acron has acquired "The Carolyn" apartment project in Las Colinas, Dallas, for its Zug-based subsidiary Acron Lake Carolyn Residential AG. The purchase was completed on September 15 and construction of the 319 apartments is set to begin in September, according to Acron.
The project is located in the highly sought-after Las Colinas submarket and has direct lake access to Lake Carolyn. Nearby is the Las Colinas Urban Center with entertainment and dining options, and the residential project is directly connected to the Dallas Area Rapid Transit (DART), which links Las Colinas with Dallas-Fort-Worth Airport and downtown Dallas.
The entire catchment area is characterized by high economic growth and is in high demand from both private and commercial tenants. Las Colinas is characterized, among other things, by historically high occupancy rates of over 95 percent and the presence of an above-average number of Fortune 500 companies that have settled in the area.
