Loft News

Hip walkable Main Street Lofts in Mansfield score a new owner

Poolside at Main St. Lofts

SPI Advisory

A hip loft building in Mansfield has a new owner: Main Street Lofts, a 266-unit apartment community built in 2022, was acquired by SPI Advisory, a Texas-based multifamily private equity firm, and its partners.

Located at 715 N. Main St., Main Street Lofts is a Class A institutional-quality property that had lots of appealing assets for SPI:

Proximity to a diverse, robust economy housing major employers and Fortune 500 companies in various industries including Healthcare, Finance, Manufacturing, Aerospace, and BioTech
Accessibility to more than 2.15 million jobs within a 20-30-minute drive
highly coveted Mansfield ISD schools

The area's strong demographics were a plus, with average household incomes of ~$128K within a 3-mile radius (U.S. Census Bureau, April 2023) and a population growth of 34 percent since 2010.

The property is brand new, and features superior finishes and amenities like a rooftop deck and entertainment lounge, social library, coffee bar, strength training fitness center, yoga/cycling studio, and EV charging stations.

The property also boasts major lifestyles perks: direct trail access to a public 3-acre park, biking trails, the city trail system, and Mansfield’s Historic Downtown, giving it a walkability element that's unique in the area.

In addition to Main Street Lofts, SPI owns and operates nearly 7,300 units between DFW, the proximal submarkets of Austin, Kyle, & Buda, San Antonio, and New Braunfels.

This is SPI’s fifth apartment acquisition in 2023. In a statement, SPI Advisory principal Michael Becker says that the buying spree is likely to extend into 2024 as well.

"We project that after another high year in 2024 for new multifamily deliveries, they will drop off dramatically in 2025," Becker says. "We project that DFW Multifamily to be undersupplied for at least 2 years thereafter. That said, we feel this is a great point in the cycle to buy well-located quality assets like Main Street Lofts."

city-news-roundup Loft

farm for sale

Unusual ultra-modern Grapevine ranch is on the market for $7.2 million

Photo courtesy of Briggs Freeman Sotheby’s International Realty

The Willow Wood Horse Farm in Grapevine is on the market for $7.2 million.

A stunning 10-acre property in North Texas that looks like it was made for an ultra modern cowboy family has just hit the market for $7.2 million.

Called the Willow Wood Horse Farm, this one-of-a-kind equestrian paradise is located on West Kimball Avenue in Grapevine, about 30 miles northeast from downtown Fort Worth.

The ranch is an extraordinary combination of elegant and thoughtful modern design paired with all of the practicality required of a fully functioning farm.

According to the listing, which is held by Burgher-Ray Ranch Group and managed by David Burgher and Harlan Ray, the farm includes several fenced pastures, an enclosed and insulated shop storage building with concrete flooring, and a seven-stall horse barn.

A covered and irrigated riding arena is attached to the barn, every stall has its own turnout, and six of the stalls are 12 feet by 12 feet wide, and the seventh is designated as a foaling stall. An additional turnout for grazing is located adjacent to the barn, as well as a training pen.

Willow Wood Horse Farm in Grapevine, ranch for sale The horse barn has seven stalls with individual turnouts.Photo courtesy of Briggs Freeman Sotheby’s International Realty

But the focal point of the entire estate is the 4,353-square-foot, three-story primary residence that sits at the highest point of the gently sloped property. The home was custom-designed and completed in 2022, featuring an exterior made of metal cladding, concrete, durable ipe hardwood, and glass.

Upon entering the front door, guests will notice unparalleled views that lead through the home's living areas and into the 3,000-square-foot back deck, past the 80-foot-long saltwater swimming pool, and out toward the pastures.

The chef's kitchen is outfitted with luxurious Gaggenau appliances, such as a steam convection oven, a conventional convection oven, a coffee machine, stove, dishwasher, a separate paneled refrigerator and freezer, and a warming drawer. A half bathroom and full butler's pantry is located to the side of the kitchen, which is equipped with a prep space and a dishwasher.

Additional features of the home include:

Koi ponds located on either side of the main door that welcome guests to the home
An open concept living space that contains the living room, kitchen, and dining rooms
A primary suite with a spacious walk-in closet and en-suite bathroom
Two additional bedrooms with en-suite bathrooms
Soft opening/closing doors in all main bedrooms
Dynaudio speakers installed throughout the home
Geo-thermal heating/cooling system

A custom-built metal spiraling staircase connects all three levels of the home. The second floor contains a viewing area with floor-to-ceiling windows and access to the covered porch and rooftop deck. The lower level leads to an "acoustically balanced" underground home theater featuring eight-foot concert walls, Dynaudio speakers, an Ember Audio sound system, a 250-bottle wine cooler, and a powder bathroom. The listing notes that this area could be converted into a storm cellar.

Willow Wood Horse Farm in Grapevine, ranch for sale The underground home theater has an impressive Ember Audio sound system with Dynaudio speakers.Photo courtesy of Briggs Freeman Sotheby’s International Realty

A detached three-car garage is located next to the home, which contains one EV charging station and two additional outlets for charging. Discreetly designed solar panels are hidden on top of the garage, which are capable of powering the entire residence.

The horse barn, irrigation system, and stock pond all run off of a water well located on the property, while the primary residence uses city water with a filtration system.

"Situated in the heart of the Dallas-Fort Worth Metroplex, just minutes from Lake Grapevine, Southlake, and an easy commute to DFW International Airport, this property affords someone the ability to have all the comforts of the city, while living just slightly removed from it all," the listing says.

Photo courtesy of Briggs Freeman Sotheby’s International Realty

The Willow Wood Horse Farm in Grapevine is on the market for $7.2 million.

real estate grapevine dallas fort worth ranches home for sale