Community amenities include a swimming pool, fitness center, clubhouse, business center, two laundry facilities, a dog park, playground, and BBQ areas.
The Multifamily Group (TMG), a Dallas-based commercial real estate brokerage firm, has announced the sale of Birchwood Apartments, a 236-unit garden-style multifamily community built in 1977 and located in Lubbock, Texas.
Yonnic Land represented the seller, Benefit Street Partners, while Jon Krebbs sourced the buyer, an out-of-state investor completing their first purchase in Texas. The transaction closed in 60 days, with non-refundable earnest money delivered on day one.
“Benefit Street is fantastic to work with, and this marks our second closing with them and our third REO sale this year,” said Land. “Finding the right buyer is what our company does best, and that allows our Debt Fund clients the flexibility they need to bring these transactions across the finish line,” added Krebbs.
Birchwood offers one- to three-bedroom floor plans averaging 713 square feet. Select units feature two-tone paint, vinyl plank flooring, stainless steel or black appliances, painted cabinets with updated hardware, walk-in closets, and private balconies or cedar-accented patio enclosures.
Strategically located along Loop 289, traveled by more than 76,000 vehicles per day, Birchwood sits directly across from South Plains Mall and just a 12-minute drive from Texas Tech University, a Big XII institution with more than 40,000 students and a football program vying for its first Big 12 title and a berth in the college football playoffs.
The surrounding area features national retailers, average household incomes of $73,000, and recent recognition naming Lubbock one of the Top 100 Best Places to Live and a Top 20 Best City to Start a Business.
