Dallas, TX (September 15, 2021) – Nicholas SunTx RE Partners II, in cooperation with Hughes Capital Partners, continues to expand with the acquisition of Bellevue at The Bluffs in Dallas, TX.
Nicholas Residential’s subsidiary, Bellevue Living, will oversee the daily operations of the community.
Formerly Aura Bluffview, Bellevue at The Bluffs was built in 2019 and boasts 473-units of apartment homes. The property features studio, one-, two- and three-bedroom apartment homes, plus multilevel townhomes, across 74 unique floor plan types.
Located within central Dallas, Bellevue at The Bluffs is surrounded by Inwood, Park Cities, Preston Hollow and Dallas Love Field. The community features two sparkling swimming pools, a state-of-the-art fitness facility, business center with a separate conference room, a zen oasis, and a stunning sky lounge with impressive views of Downtown Dallas and the Bachman Creek Greenbelt.
“Our investment in Bellevue at The Bluffs provides the opportunity for Nicholas SunTx RE Partners II and Bellevue Living to position ourselves as leaders in the multifamily sector in Texas,” said Paul Panza, General Partner and President of Bellevue Living. “This acquisition promotes our investment strategy to provide attainable housing to the biggest metropolitan areas throughout the Sun Belt.”
In addition to Nicholas SunTx RE Partners II purchase of Bellevue at The Bluffs, the company also closed on Bellevue at Avondale in Decatur, GA, continuing their growth strategy into prominent markets across the U.S.
“With the purchase of Bellevue at The Bluffs and Bellevue at Avondale, Nicholas SunTx RE Partners II not only acquires properties that lead the market, but also the teams that make these communities the absolute best”, added General Partner Ned Fleming.
ABOUT NICHOLAS SUNTX RE PARTNERS II
Nicholas SunTx RE Partners II was formed in collaboration between Nicholas Residential LLC, and SunTx Capital Partners, LP, both headquartered in Dallas, TX. Nicholas Residential LLC is a fully integrated, privately held real estate investment firm. SunTx Capital Partners, LP is a private equity firm that invests in middle market manufacturing, distribution, and service companies. Together, Nicholas SunTx RE Partners II invests alongside institutional and private clients in attainable, value-add and opportunistic apartment communities in Tier-1 real estate markets throughout major Sunbelt states, including Texas, Florida, Georgia, Arizona, Tennessee, Nevada, South Carolina, and North Carolina. The company currently holds approximately $650 million of assets under management.
In partnership with Nicholas Residential LLC’s subsidiary, Bellevue Living, the company strives to produce compelling risk-adjusted returns with current dividends while strengthening neighborhoods through a variety of community outreach and social programs.
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