Dominium Grabs Texas Affordable Housing Property

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The buyer plans to invest in interior and amenity upgrades at the 140-unit property in Bryan. : Dominium has acquired Forest Park Apartments, a 140-unit mixed-income property in Bryan, Texas, from Envolve. The transaction marks the housing developer’s first investment in the Bryan-College Station metro area. The buyer secured $6.2 million in acquisition financing from Polaris Capital, public records show. The new owner will rebrand the property as Sandy Creek Apartments. The garden-style community previously changed hands in 2018, Yardi Matrix data shows. The community, opened in 2005, was developed with financing through 9 percent Low Income Housing Tax Credits.

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