Crescent Completes 146-Unit Melissa BTR Community
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Dallas-Fort Worth continues to absorb the largest multifamily delivery pipeline in the country. Industrial along the I-35 corridor is clearing at competitive basis, and selective office is finding bids at deep discounts to replacement. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- The 36th Dallas story tracked on the wire in November 2026. All Dallas coverage →
Computed from Real Estate Trail’s own tracked coverage
Crescent Communities opened HARMON Melissa, a new 146-unit rental community offering townhome living in Melissa, Texas, one of North Dallas’ fastest-growing towns. Residents can choose from nine distinct three- and fo…
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