Commercial Real Estate Direct Staff Report
A venture of Atlas Residential of Chicago and International Investment Bank Bahrain has paid affiliates of Pillar Income Asset Management of Dallas $250 million, or about $104,200/unit, for 11 apartment properties with 2,400 units in Texas.
Transcontinental Realty Corp., a Dallas company that Pillar manages, sold nine of the properties with 1,955 units for $190 million, while the other two were sold by an unidentified affiliate.
The Atlas venture assumed an undisclosed amount of federal Housing and Urban Development financing backed by the...

“The Weekly”
“The Weekly” is Commercial Real Estate Direct’s PDF newsletter, sent to subscribers every Friday morning. With over 100 news stories published on Commercial Real Estate Direct each week, “The Weekly” features the top stories in commercial real estate that industry participants need to know first. “The Weekly” also contains:
- Breaking mortgage, CMBS, and REIT news
- Quarterly league tables with rankings of B-piece buyers, book runners, and lenders
- Industry moves and changes in “The Insider“