The Dallas-Fort Worth multifamily housing market continues to attract major real estate investors, and the latest transaction shows growing confidence in one of Texas’s fastest-growing regions. MG Properties has acquired Reserve at Spring Creek, a 458-unit apartment community in Richardson, Texas, from an affiliate of Lone Star Funds, according to an official announcement released by Lone Star Funds.
The deal adds another large residential property to MG Properties’ expanding portfolio, and highlights continued investor interest in high-demand rental communities across Texas.
Reserve at Spring Creek Sold in Richardson
Reserve at Spring Creek is located in Richardson, a city within the Dallas-Fort Worth metroplex that has become a major center for business and residential growth. The apartment community is situated in the Telecom Corridor area, which is known for its concentration of technology and corporate offices.
Lone Star Funds confirmed that the property was sold through an affiliate of Lone Star Value-Add Fund I, L.P. The companies did not disclose the financial terms of the transaction.
The apartment community was developed in 2019 and includes 458 residential units. The property is positioned near major transportation routes and employment hubs, making it attractive to working professionals in the region.
Lone Star Says Property Was Improved During Ownership
In its official statement, Lone Star Funds said it invested in upgrades and improvements at Reserve at Spring Creek during its ownership period. The company stated that it focused on enhancing amenities and tenant offerings at the property.
Jérôme Foulon, Global Head of Commercial Real Estate at Lone Star, said the company identified the property as a strong investment opportunity in a growing residential market. He added that the firm’s asset management strategy helped strengthen the community during its ownership.
The Richardson area has continued to see population growth and business expansion in recent years, contributing to steady demand for multifamily housing.
MG Properties Expands Further in Texas
The acquisition marks another step in MG Properties’ expansion across Texas. The San Diego-based real estate investment and management company has continued to grow its presence in the state through multifamily property acquisitions.
In 2025, MG Properties entered the Texas market with the acquisition of Ovation at Galatyn Park, another residential community in Richardson.
MG Properties currently owns and manages apartment communities across several states in the western and southern United States. The company focuses on long-term investments in rental housing markets with strong economic growth and housing demand.
Industry activity in Dallas-Fort Worth remains strong as investors continue targeting multifamily assets in rapidly growing suburban markets. The acquisition of Reserve at Spring Creek reflects continued confidence in the region’s long-term housing outlook.
