Downtown Plano apartment community purchased by New York investor

A new apartment community in Plano’s downtown district has been purchased by a New York investor.

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Clarion Partners LLC bought the year-old Junction 15 apartments located on 15 th Street, east of North Central Expressway.

The 5-story property includes 7,700 square feet of retail space and 279 apartments.

Developer Southern Land Co. sold Junction 15 to Clarion Partners. Terms of the sale were not disclosed.

“Junction 15 is a beautiful, high-quality residential community that has helped the city in its efforts to revitalize downtown Plano,” Brian Watkins,  Managing Director at Clarion Partners, said in a statement. “This project exemplifies the quality and vision the market has come to expect from Southern Land Company, and Clarion Partners is excited to add this development to our portfolio.”

The apartments are located across the street a DART commuter rail station.

Clarion Partners is an investment advisor with more than $30 billion in assets under management.