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Ron Taylor: Property Management—Perception vs. Reality


Public forums that provide residents with “air time” to review their apartment communities often offer a mediocre view of the managers in the trenches and the properties they oversee. I recently sampled 50 Dallas communities in various monthly rent ranges, and here’s what I found.


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Brian O’Boyle: 2013 Multifamily Outlook—The Roll Continues


Investment capital continues to pour into the apartment sector. Even deals with unattractive debt and significant yield maintenance/defeasance are drawing a big crowd. At the same time, North Texas leads the nation in multifamily construction, with new products securing record rents.


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Sale: 6327 Woodway Drive


JDL Ventures LLC has purchased a 106-unit apartment complex at 6327 Woodway Drive in Fort Worth.


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Harwood Has Design District Project in the Works


Harwood International, the developer behind the 17-block Harwood area of Uptown, is expanding into the Design District. The company is planning to break ground this spring on District 144: The Design Village, at the southeast corner of Dragon Street and Oak Lawn Avenue. The five-story, mixed-use complex will include 224 apartments and 46,000 square feet of retail space.


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Hillwood Starts Construction of Multifamily Project at Alliance


Hillwood Properties’ multifamily division has broken ground on SageStone Village, a 306-unit luxury apartment complex on 13 acres within its 900-acre Alliance Town Center development.


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Jones Lang LaSalle Buys The Apartment Group Ltd.


Jones Lang LaSalle is expanding its capital markets platform with its acquisition of The Apartment Group Ltd., a Dallas-based multifamily brokerage. Jeff Price, the firm’s founder and president, will join JLL as managing director and oversee multifamily operations in Texas.


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CDRC Provides Funding for Forest City’s Project in West Village


The City of Dallas Regional Center, a public-private partnership between the City of Dallas and Civitas Capital Group, has closed on a senior loan to fund “a significant portion” of a 21-story residential tower being developed by Forest City in the West Village area of Dallas. The project, which includes 381 luxury apartments and 37,000 square feet of retail and restaurant space, is expected to create more than 1,000 direct and indirect area jobs.


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Ron Taylor: Fruitcakes for the Federal Reserve


As multifamily owners, we are happy to pay our fair share, but are concerned with the burden that is being placed on property operations as a result of the significant increases in the assessed values of the properties we manage.


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TDI Buys Land for $50 Million Apartment Project in Las Colinas


Irving-based TDI has acquired 6.65 acres in Las Colinas for a 386-unit apartment complex. The $50 million project will be the first to be located near the recently opened DART Orange line station across from the Irving Convention Center.


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Sale: 4514 Abbott


T & A Resources FLP has purchased 15,080 square feet of multifamily space at 4514 Abbott in Dallas.


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HFF Arranges $32M Financing Deal for Euless Multifamily Project


HFF has secured $32 million in financing for Stoneleigh at Bear Creek, a 436-unit, Class A multifamily project in Euless. The firm worked on behalf of Pure Multi-Family REIT LP to arrange the seven-year, fixed-rate loan with Freddie Mac. Loan proceeds were used to acquire the property.


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Sale: 2901 Ridgeview


CAF Capital Partners has purchased 260, 240 square feet of multifamily space at 2901 Ridgeview in Plano.


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Ron Taylor: Multifamily Rent Increases—From a Tenant’s Perspective


Although we celebrate the significant increases currently being experienced in our operations, one has to wonder what’s happening with the resident’s ability to continue to absorb these rental increases, given the pressures they’re experiencing in the basic necessities of life, including gas, food, and medical costs.


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Sale: Trinity Oaks


Allan Harrison Company LLC has purchased eight 627-square-foot multifamily units at Trinity Oaks in North Dallas.


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Sale: 3535 Webb Chapel Road


PS Apartments LP has purchased 440 multi-family units at 3535 Webb Chapel Road in Dallas.


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Sale: 2301 Presidio Vista Drive


B&M Management Company has purchased 348 multifamily units at The Wyatt at Presidio Junction at 2301 Presidio Vista Drive in Fort Worth.


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Partners Break Ground on Victory Park Apartments


Behringer Harvard today announced its acquisition of a 3.9-acre tract in Victory Park, the large mixed-use development surrounding American Airlines Center in Dallas. In partnership with Mill Creek Residential Trust, it’s developing a 377-unit multifamily complex called The Arpeggio Victory Park.


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Sale: 500 E. Harwood


Multifamily Equity Holdings LLC has purchased 53,776 square feet of multifamily space at 500 E. Harwood in Euless.


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Sale: 900 S. Medalist Circle


Multifamily Equity Holdings LLC has purchased 159,644 square feet of multifamily space at 900 S. Medalist Circle in Plano.


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Sale: 3535 14th St.


Multifamily Equity Holdings LLC has purchased 179,340 square feet of multifamily space at 3535 14th St. in Plano.


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Sale: 2300 Ridge Run Road


Multifamily Equity Holdings LLC has purchased 102,060 square feet of multifamily space at 2300 Ridge Run Road in Arlington.


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Sale: 8900 La Palma Drive


Multifamily Equity Holdings LLC has purchased 179,340 square feet of multifamily space at 8900 La Palma Drive in Fort Worth.


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Sale: 2300 Citrus Lane


Multifamily Equity Holdings LLC has purchased 152,234 square feet of multifamily space at 2300 Citrus Lane in Arlington.


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Sale: 3236 Hunter Park Circle


Multifamily Equity Holdings LLC has purchased 114,720 square feet of multifamily space at 3236 Hunter Park Circle in Fort Worth.


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Multifamily Equity Holdings LLC Acquires Seven DFW Properties


Dirk Goris and Chris Deuillet with CBRE Dallas have brokered the sale of seven North Texas apartment communities to Multifamily Equity Holdings LLC. Combined, the transactions total more than 941,000 square feet and nearly 900 units.


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