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4801 Sanger Ave. Waco, TX 76710
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
5960 Berkshire Lane, Suite 1000
Dallas, TX 75225
214.346.0200
Investment Sales
DALLAS
CONTACT Info
Matt Wideman
Managing Director 214.360.3847 matt.wideman@berkadia.com TX DRE # 673251
Bart Wickard
Senior Managing Director 214.360.3848 bart.wickard@berkadia.com TX DRE # 609281
PHOTO GALLERY
Berkadia is pleased to exclusively present the opportunity to forward purchase Magnolia at Legacy Hills (the “Property”), a to-be-developed, Class A build-to-rent (BTR) single-family home community located in Celina, TX part of the active DFW MSA. Price to be determined by market.
Developed by America’s leading homebuilder, D.R. Horton, Magnolia at Legacy Hills will consist of 192 wood framed single-family units, boasting an average size of 1,878 square feet across 3- and 4-bedroom floorplans, catered to the comfort and convenience of future residents. All homes will feature attached two-car garages, private two-car driveways, smart home technology packages, and top-of-market interior finishes.
As a forward sale, investors are presented with the opportunity to acquire this highly differentiated asset in one of the strongest growth markets in the U.S. at a discount to stabilized value. It is anticipated that the closing of the transaction will take place in several phases as buildings are delivered. Closing will be subject to each building being completed per plans and specs, and receipt of required certificates of occupancy.
All photos and floor plans are not actual photos of the community for sale, but representative of the homes to be built.
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JASON RICE
Senior Managing Director 214.360.3811 jason.rice@berkadia.com
NATHAN STONE
Senior Managing Director 214.394.3444 nathan.stone@berkadia.com
INVESTMENT HIGHLIGHTS
LOCATION
Prime Location
Address
Year Built
Number of Units
Total SF
Average Unit Size
Occupancy
Average Market Rent
4801 Sanger Ave. Waco, TX 76710
1969
78
72,964
932 SF
85% (as of April 2025)
$1,145
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Tribeca Apartments is strategically positioned in the diverse and thriving Sanger Heights neighborhood, offering residents the convenience of downtown access without the congestion typically associated with student and tourist traffic. Its location at the intersection of I-25, SR 6, and SR 84 ensures easy access to major transportation routes, facilitating connections to employment, entertainment, and recreational opportunities.
Stable Occupancy with Growth Potential
Currently at 85% occupancy, Tribeca Apartments provides investors with a stable rental base while presenting significant opportunities for growth. The property’s spacious accommodations are in high demand, with units averaging 932 square feet and townhome-style residences averaging 1,150 square feet.
Value-Add Potential
For a relatively low initial investment, new ownership can capitalize on the property’s value-add potential by undertaking simple renovations. Upgrading appliances, fixtures, and cabinetry can significantly enhance the property’s appeal and allow for increased rental rates, capturing substantial future rental upside.
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JUSTIN COLE
Managing Director 512.226.8711 justin.cole@berkadia.com TX DRE# 661056
ADAM SUMRALL
Director 512.960.2674 adam.sumrall@berkadia.com TX DRE# 640038
JUSTIN CHAMBERS
Director 512.969.6838 justin.chambers@berkadia.com TX DRE# 728098
KELLY WITHERSPOON
Senior Managing Director 512.26.8706 kelly.witherspoon@berkadia.com TX DRE# 506184
LOCATION