SWBC Real Estate announced in a March news release that it sold the property to Lightbulb Capital Group for “an undisclosed amount.” After the sale, the community was renamed to Luxia Craig Ranch.
Lightbulb Capital Group owns properties in Arizona, California, Kansas, Nevada, Oklahoma and Tennessee. Locally, the company owns about 4,000 multifamily units and 5 million square feet of retail space, said Ramsey Soliman, partner with Lightbulb Capital Group, in an email.
He added all of the group’s recently acquired properties will be renamed to Luxia, creating a “Class A multifamily brand.”
In addition to the Craig Ranch community, Lightbulb Capital Group also purchased The Royalton at Rockwall Downes in Rockwall. Soliman said the group is looking forward to expanding its presence in the Dallas-Fort Worth area.
“These are ideal properties to launch our Luxia brand of Class A multifamily, and we are grateful for the opportunity to transact with an industry-leading developer like SWBC,” Soliman said in the release.
214-383-9549. www.luxiacraigranch.com
