DALLAS, TX - Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Lux on Main, a 352-unit transit-oriented multifamily community located in Carrollton, Texas.
Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller, Nimes Real Estate, in the transaction. The community was acquired by RPM Living.
"Lux on Main attracted global investor interest including pension funds, private equity, family offices and multifamily funds who recognized the merits of this compelling opportunity. The depth of capital reflects investor conviction for the future of Dallas-Fort Worth and best-in-class developments around the metroplex,” said Hall, Senior Director at Cushman & Wakefield.
Built in 2019, Lux on Main offers high quality interior finishes and open concept design across its units, along with community amenities such as an upscale resort-style pool, 24-hour wellness center, “zen” courtyards, resident lounge, and business center. The community also sits in the heart of Carrolton’s Downtown Square, which has seen rapid growth in recent years with quick accessibility to all the major employment nodes and is walkable to some of Carrolton's best restaurants and retail, including 4,095 square feet of fully leased retail space located on the ground level of the property.
"This transaction underscores the strong demand for prime real estate in sought-after locations like Downtown Carrollton. With its rapid growth and easy access to major employment centers, Lux on Main provides walkability to top restaurants and retail. The property has achieved above-average occupancy and positive lease trade-outs, reinforcing Downtown Carrollton as a premier destination for top-tier investors in the town center,” added Raymond, Senior Director at Cushman & Wakefield.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 100-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group has closed $3 billion in sales volume through 120 deals and 18,000 units.
For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com