Belgium Family Offices Acquire 374-Unit Irving Apartment Community for Rebrand

Baltisse and Peruna, both Belgium-based family offices, announced the acquisition of a 374-unit apartment community in Irving, Texas, in partnership with RPM Living. The property, previously known as The Crest at Las Colinas, has been rebranded as The Louis Las Colinas and will undergo a comprehensive capital improvement program, according to the announcement.

The 5-story community is located along Lake Carolyn in the Las Colinas Urban Center. The property offers studio, 1-bedroom, and 2-bedroom residences ranging from approximately 600 to 1,500 square feet.

Andrew Lohrfink, President of U.S. Real Estate for Baltisse, said in the announcement, "The Louis Las Colinas fits squarely within Baltisse U.S. Real Estate's focus on investing in high-quality, well-located infill apartment communities at significant discounts to replacement cost. We are particularly focused on opportunities in high-growth markets where strong underlying fundamentals, combined with strategic asset repositioning, provide opportunities to unlock additional value."

The property is located near several major employers, including Wells Fargo, McKesson, Caterpillar, and Kimberly-Clark. It is also near Toyota Music Factory and the Irving Convention Center, with restaurants and retail options within the Las Colinas Urban Center.

The community 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 capital improvement program will include refreshed amenity spaces, exterior enhancements, and upgraded apartment interiors, according to the announcement.

Eveline Vereecke, Co-CEO of Peruna, stated, "The Louis Las Colinas represents an important step in Peruna's continued international expansion. We have strong conviction in the long-term fundamentals of the U.S. multifamily market, particularly in dynamic and growing markets such as Dallas-Fort Worth."

Jose Blanc, Senior Vice President of Investments for RPM Living, added, "Acquiring The Louis Las Colinas reflects RPM Investments' commitment to pursuing high-quality assets across Dallas-Fort Worth."

The transaction represents Baltisse U.S. Real Estate's second U.S. multifamily investment in recent months, following the acquisition of The Carson, a 298-unit community in Charlotte's South End submarket.