Uptown Dallas Luxury Residential High-rise Is Up for Grabs

One of Uptown Dallas' posh apartment towers is up for grabs.The 21-story Ashton high-rise on Cedar Springs Road across the street from the Crescent is being marketed for sale by commercial property firm CBRE.The 15-year-old, 267-unit luxury rental tower has been owned by Invesco Real Estate since 2013.The building was renovated last year and is valued for property taxes at more than $100 million.The building is more than 92% leased and has rents that average about $3,400 a month.The Ashton was one of the first 21st Century Dallas apartment high-rises to open its doors.Currently almost a dozen residential towers are under construction in North Texas with more than 4,000 high-priced rental units.  Continue reading...

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