Meag, Munich Re’s asset manager, in cooperation with CBRE Investment Management, has acquired The Laurel Preston Hollow, a 159-unit residential property located at 8600 Preston Road in Dallas, on behalf of Munich Re Group.
The Laurel Preston Hollow is a Class A, podium-style apartment property comprised of one-, two- and three-bedroom units that feature high-end finishes including granite countertops, stainless steel appliances, 10-foot ceilings, designer cabinets, under-cabinet lighting, wine refrigerators and washer/dryers in-unit. Residents also have access to various community amenities including a resort-style pool, a clubhouse, 24-hour fitness center, dog park, multiple courtyard spaces, a business center with conference room, EV charging stations and 268 reserved garage parking spaces.
“Acquiring this property fits within our strategy of investing in difficult-to-replicate residential assets located in growing infill markets with strong employment and demographic trends,” said Ben Green, Managing Director, Residential Transactions for CBRE Investment Management. “We believe that this asset’s high-end, unique finishes and location within one of the most sought-after areas in Dallas will provide long-term value for the residents and also our client.”
“Dallas is an exciting city and has established itself as one of the fastest-growing business centers in the U.S.,” said Volker Zinkl, Meag’s Head of International Asset Management. “We believe in the city’s long-term success story and are excited to complete a transaction in this unique neighborhood.”
The Laurel Preston Hollow is located within Preston Hollow, considered one of the most desirable neighborhoods in Dallas. The property is adjacent to The Plaza at Preston Center, a 3 million-square-foot mixed-use development featuring offices, high-end retail and restaurants. The property has easy access to the Dallas North Tollway and I-75, placing it within eight miles of the Dallas central business district.
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