A luxury residential tower north of downtown Dallas has been sold to a local investor.
The 31-story Christopher rental building is part of the Union high-rise complex on Field Street next to Victory Park. The luxury rental tower with 309 units was built in 2019 as part of the mixed-use one-block residential complex Union.
Dallas-based L&B Realty Advisors bought the building from RED Development of Phoenix, which the Union built. Dallas’ StreetLights Residential built the apartments.
“The Christopher enjoys a prime location with close proximity to a high quality work base, close proximity to major transportation corridors and the entertainment and arts districts of Dallas,” said Bernadette Mussell, vice president of acquisitions at L&B Realty, in a statement.
Conditions of sale were not disclosed. Phoebe Brent and Ryan Reid of Eastdil Secured put the building up for sale. Lincoln Property Co. rents the building.
L&B Realty represents institutional investors with property purchases in the billions.
The Christopher Tower purchase follows the sale of the Union’s 21-story office building worth $ 370 million in 2020 and more than 85,000 square feet of retail space anchored by a Tom Thumb grocery store. The acquisition of Union by an international investment group achieved a record price for real estate in North Texas.
The Christopher is the third residential tower in Uptown to have changed hands in the past few months.
A Florida investor acquired the 21-story Mondrian high-rise apartment building in the Cityplace project in July, and a California investor acquired the 21-story Gables Uptown Tower on McKinney Avenue.
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