Broe Group has made its first entry into the Dallas multifamily sector by acquiring Maple Terrace Residences, a 22-story, 345-unit apartment complex located in the Uptown area. The all-cash purchase represents the company’s first Dallas property, though it already owns rail and commercial real estate assets across Texas. The sale involved a partnership of Hines, McNair Interests, and Mitsui Fudosan America. Located at 3003 Maple Ave., the property is part of the broader Maple Terrace development, which includes residential, office, and retail components.
The total value of the Maple Terrace development, including both residential and mixed-use components, was previously assessed at over $250 million by the Dallas Central Appraisal District. The residential portion, which opened in 2024, is nearly 92% occupied, according to Yardi Matrix. Residents have access to one- to four-bedroom units, along with amenities like a fitness center, swimming pool, media room, and business center. Every unit includes digital locks and laundry appliances, while select units offer fireplaces. The property also features a clubhouse and provides 811 parking spaces within the structure.
Headquartered in Colorado, Broe Group manages a portfolio worth $8 billion, encompassing multifamily, commercial, and rail assets. This latest acquisition follows its expansion into Southern California, where it purchased 525 Olive in San Diego for $148 million last October. That transaction, facilitated by Walker & Dunlop, marked Broe’s first multifamily property in the region. The 20-story, 204-unit building in San Diego’s Bankers Hill neighborhood opened in 2022, further demonstrating Broe’s growing presence in high-demand markets.
Dallas has experienced significant multifamily investment activity in 2026, with $1.7 billion in deals completed during the first half of the year. This figure represents a slight decline from the $1.9 billion recorded in the same period of 2025. The Dallas-Fort Worth metro area remains the fifth-most active U.S. market for multifamily acquisitions, topping markets like Phoenix, Los Angeles, and Houston. Notable recent transactions include Hines Global Income Trust’s $170.5 million purchase of the Bishop Arts Portfolio in October, a nine-building collection developed between 2018 and 2025, and Bader Cos.’s acquisition of The Arts, a 228-unit property completed in 2010, in September.
The financing for Maple Terrace includes $180.6 million in permanent debt, secured by Sumitomo Mitsui Bank in 2021. Hines will retain management of the property following the sale, while JLL Capital Markets served as the seller’s representative in the transaction. The deal highlights ongoing competition in Texas multifamily markets, where demand persists despite a modest reduction in transaction volume compared to the previous year.
