Dominium Expands Texas Portfolio with Acquisition of The Cesera in Garland, Texas

The 204-unit affordable senior housing community to undergo a $7.1 million renovation

Dominium, a leading national owner, developer, and manager of affordable housing, announced today its acquisition of The Cesera in Garland, Texas. The 204-unit age-restricted property expands Dominium’s existing portfolio in the Dallas-Fort Worth market.

The Cesera was built in 2006 using 4% low-income housing tax credits. Located just 30 minutes from downtown Dallas, the property offers residents a variety of amenities including an outdoor pool, a library, fitness and theater rooms, and more. Dominium plans to renew the property’s affordable housing status in 2023 while conducting approximately $7.1 million of improvements including a redesigned clubhouse, updated landscaping and building exteriors. Other improvements include enhancements to unit interiors including new cabinets, flooring, and efficient appliances, along with energy saving improvements.

Financing for this transaction was provided by Merchants Bank of Indiana. Development partners include Merchants Bank of Indiana, Garland Housing Finance Corporation, Chicago Title Company, and Winthrop & Weinstine.

Dominium is grateful for these partners who made it possible to close this transaction and to all who will be involved in this important project in the future.