Baltisse and Peruna Acquire 374-Unit Apartment Community in Irving Texas
Baltisse and Peruna, both Belgium-based family offices, announced the acquisition of a 374-unit multifamily community in Irving, Texas, in partnership with RPM Living. The property, formerly known as The Crest at Las Colinas, has been rebranded as The Louis Las Colinas.
The company announced the property will undergo a comprehensive capital improvement program. The 5-story apartment community is located along Lake Carolyn in the Las Colinas Urban Center and offers studio, 1-bedroom, and 2-bedroom residences ranging from approximately 600 to 1,500 square feet.
According to Andrew Lohrfink, President of U.S. Real Estate for Baltisse, the acquisition aligns with the firm’s focus on investing in infill apartment communities at discounts to replacement cost. The company stated it is targeting high-growth markets where fundamentals combined with strategic repositioning provide opportunities to unlock additional value.
The property is located near several major regional employers, including Wells Fargo, McKesson, Caterpillar, and Kimberly-Clark. Nearby destinations include Toyota Music Factory and the Irving Convention Center. The Las Colinas Urban Center includes restaurants and retail options.
The Louis Las Colinas is adjacent to the Las Colinas Urban Center DART station, providing rail access to DFW International Airport and downtown Dallas. Current amenities include a resort-style pool, landscaped courtyard and Zen Garden, resident lounge, fitness center, and co-working space.
The partners’ value-add business plan includes refreshed amenity spaces, exterior enhancements, and upgraded apartment interiors, according to the announcement.
Eveline Vereecke, Co-CEO of Peruna, stated the acquisition represents a step in the firm’s international expansion. Jose Blanc, Senior Vice President of Investments for RPM Living, said the property’s transit-oriented location, proximity to major employers, and position within the Las Colinas Urban Center make it a compelling opportunity.
The transaction marks Baltisse U.S. Real Estate’s second U.S. multifamily investment in recent months, following the acquisition of The Carson, a 298-unit apartment community in Charlotte’s South End submarket.