October 27, 2016
Dallas – Transwestern’s Dallas-based Multifamily Investment Services Group today announces it has brokered the sale of two Class B apartment communities in the Dallas-Fort Worth area, bringing the team to $1 billion in sales volume since 2014. Transwestern Principal Taylor Snoddy and Vice Presidents Philip Wiegand and James Roberts represented the sellers and sourced the buyers in the transactions.
“Dallas continues to receive strong interest from local, national and international investment groups that are attracted to the region’s robust economy,” said Snoddy. “The Dallas-Fort Worth metro currently ranks second in the nation for job growth, and with current occupancy of 95.5 percent, DFW continues to provide outstanding returns for investors.”
Vistas at Lake Worth, a 265-unit community in Fort Worth, Texas, was acquired for an undisclosed price by Presidium, an Austin-based investment group that has plans for extensive interior and exterior renovations. Lagovent Ventures Group sold the property at 6303 Shady Oaks Manor Drive. The community has excellent amenities including a clubhouse, two swimming pools, fitness center, mature landscaping, media room, business center, controlled gate access, curbside trash service and access to Lake Worth.
Residence at Midtown Apartments, a 296-unit community in Dallas, was acquired by a Houston-based investor for an undisclosed amount. S2 Capital sold the property at 11661 Dennis Road. The community has been well-maintained and includes a newly renovated swimming pool, multiple laundry centers, playground, after-school care and business center.
Transwestern’s Dallas Multifamily Investment Services Group focuses on providing clients with exceptional service and market knowledge throughout the North Texas region. Since 2014, the Dallas Multifamily Group’s transactions have totaled over 20,000 units and $1 billion in aggregate value. The team’s success is a direct result of their expansive database, deep relationships and keen understanding of the local and national investment communities.
Transwestern is a privately held real estate firm of collaborative entrepreneurs whodeliver a higher level of personalized service – the Transwestern Experience. Specializing in Agency Leasing, Management, Tenant Advisory, Capital Markets, Research and Sustainability services, our fully integrated global enterprise adds value for investors, owners and occupiers of all commercial property types. We leverage market insights and operational expertise from members of the Transwestern family of companies specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with BNP Paribas Real Estate. Experience Extraordinary at transwestern.com and @Transwestern. For updates from the Dallas office, follow @TranswesternDLS.