A new luxury apartment community is under the works in Sachse, Texas.
It is located eight miles east of CityLine in Richardson at President George Bush Turnpike (PGBT) and Miles Road.
The Dallas-based multifamily development firm Anthem Development, a Beck Venture company, has already begun building the 389-unit complex known as Miles One 90.
Some of its features will be fitness centers, dog parks, a pool with tanning decks, a game room, and two interior courtyards.
Residents will also have the convenience of walking distance for dining, shopping, and entertainment experiences.
After closing the deal, Scott Beck, Anthem’s managing partner, is hopeful for the future.
“Beck Ventures is excited to have a deal like this right out of the gate. To have our first deal closed in 2021 means our prospects are bright for sure,” he said.
The $65 million project closed in December 2021 with equity and debt capital arranged by Southern California-based real estate capital advisory firm Nova Capital.
Anthem Development’s mission statement is to own, develop, construct, and manage great quality apartments to serve their partners and residents in the community.
The company was established by Ross Frankfurt, who left his family’s business, Frankfurt Properties, and partnered with Jeffrey Beck, his friend, and mentor. The latter parted ways from Trammell Crow Company to create Beck Ventures.
Both decided to join together to form a shared company.
CEO of Anthem, Ross Frankfurt, is also excited about the new development and what it has to offer.
“Miles One 90 aims to create an exceptional living experience in the heart of the ever-expanding 190 corridor. We are thrilled to be in Sachse because of the exemplary school district; nearby shopping and entertainment, recreation; and most importantly, access to an expanding employment base that will provide high-quality jobs for our residents,” he said.
