Scott Everett Acquires Mesquite Multifamily Property from Randal Parude in $15 Million Deal
Scott Everett purchases a 126-unit multifamily property in Mesquite from Randal Parude for $15 million.
In a recent transaction, Scott Everett has acquired a multifamily property in Mesquite from Randal Parude for $15 million. The property, located at 19200 Lyndon B Johnson Freeway, consists of 126 units and spans 91,896 square feet. The deal was brokered by William Hubbard, Chris Deuillet, Matthew Pastrano, and Jaxx Davies of CBRE.
The property is situated in the vibrant market of Mesquite, which has been experiencing steady growth in recent years. Mesquite is a suburb of Dallas and offers a convenient location for residents who work in the city but prefer a quieter suburban lifestyle.
The multifamily property is an attractive investment opportunity due to its strong rental demand and potential for value appreciation. With 126 units, the property provides a steady stream of rental income and offers a diverse mix of unit sizes to cater to different tenant preferences.
Scott Everett, the buyer in this transaction, is a seasoned real estate investor with a strong track record in the multifamily sector. He has successfully acquired and managed numerous properties across Texas, and this latest acquisition adds to his growing portfolio.
On the other side of the deal, Randal Parude, the seller, has decided to divest the property as part of his portfolio realignment strategy. Parude is a well-known real estate investor in the Mesquite area and has been actively involved in the local market for several years.
The transaction was facilitated by a team of brokers from CBRE, including William Hubbard, Chris Deuillet, Matthew Pastrano, and Jaxx Davies. CBRE is a leading commercial real estate services and investment firm, known for its expertise in the multifamily sector. The team worked diligently to ensure a smooth and successful transaction for both the buyer and the seller.
Overall, this acquisition represents a significant investment in the Mesquite multifamily market. With its prime location, strong rental demand, and experienced buyer, the property is poised for continued success in the hands of Scott Everett. As the market in Mesquite continues to thrive, this deal highlights the ongoing interest and confidence in the area’s real estate sector.