Madera Residential Picks Up Grand Prairie Rental Community

TDI offloaded the 283-unit Jefferson Cove in Grand Prairie. Madera Residential was the buyer.

Newmark’s Brian Murphy, Brian O’Boyle, Jr. and Richard Furr represented TDI in the transaction. Newmark’s Purvesh Gosalia arranged acquisition financing for Madera. 

Jefferson Cove, completed in 2024, is positioned within the Mansfield/Grand Prairie corridor, one of the fastest-growing areas in the Dallas-Fort Worth region.  The community reached over 94% occupancy as of late 2024. The luxury complex offers one, two, and three-bedroom residences near Joe Pool Lake, featuring amenities like a pool, fitness center, and proximity to shopping. 

Madera Residential has acquired more than 100 apartment complexes and 30,000 residential rental units across Dallas, Fort Worth, and Houston, TX. 

According to Newmark Research, for high-growth Sunbelt markets such as Dallas-Fort Worth, new supply has begun to decelerate meaningfully, with annual unit starts down nearly 30% from two years ago and units under construction declining more than 47% year-over-year.

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