Reserve at Spring Creek, a 458-unit multifamily community in Richardson, Texas, was sold by Lone Star Funds 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.

An affiliate of Lone Star Value-Add Fund I, L.P. held the asset as part of Lone Star Funds’ broader Dallas-Fort Worth multifamily investment strategy.

During its ownership, Lone Star Funds pursued targeted asset-management initiatives, including upgrades to amenities and tenant offerings.

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