Reserve at Spring Creek, a 458-unit multifamily community in Richardson, Texas, was sold by an affiliate of Lone Star Value-Add Fund I, L.P. to MG Properties.

The property is located in the Dallas-Fort Worth Metroplex’s Telecom Corridor submarket, with access to employment centers, retail amenities and regional transportation infrastructure.

Lone Star Funds originally acquired the asset as part of a broader multifamily investment strategy in the Dallas-Fort Worth region.

During its ownership, Lone Star completed targeted asset management initiatives and upgraded the property’s amenities and tenant offerings.

Since its first fund in 1995, Lone Star Funds has organized 26 private equity funds with aggregate capital commitments of about $96 billion.