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Cityplace apartment tower sells in Dallas’ Uptown district

The Mondrian high-rise is just west of U.S. 75.

Another Uptown Dallas tower has changed hands.

The 21-story Mondrian apartment high-rise is located just west of North Central Expressway in the Cityplace development.

The 218-unit rental tower was built in 2003. Along with the rental units, the building has 19,000 square feet of retail space.

The Mondrian was the first high-rise residential building constructed in Cityplace. Since 2012, it has been owned by Washington-based Kennedy Associates Real Estate.

Now the building has been purchased by a Florida investor, county deed records show.

The new owner, HSF Mondrian of Lakewood Ranch, is affiliated with Florida-based Hasta Capital.

The tower purchase was financed with a $56.1 million loan from the Federal Home Loan Mortgage Corp. Walker & Dunlop LLC arranged the funding.

The Mondrian is the second Uptown residential high-rise to trade in the last few weeks.

A California investor just acquired the 21-story Gables Uptown Tower on McKinney Avenue.

The 218-unit rental tower was built in 2003.
The 218-unit rental tower was built in 2003.(Mondrian )

Steve Brown, Real Estate Editor. Steve covers commercial and residential real estate in Dallas-Fort Worth. @SteveBrownDMN
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