NorthMarq Exclusively Markets 1,260-unit, Value-Add Multifamily Portfolio in Dallas-Ft. Worth
DALLAS, Dec. 2, 2019 /PRNewswire/ -- NorthMarq's Dallas Multifamily Investment Sales Group announced today it is marketing the 1,260-unit Vineyards at the Ranch multifamily portfolio. Located in the highly desirable North Dallas submarket bordering I-635 and I-75 interchanges, this two-property adjacent Class B portfolio is being offered free and clear, with initial offers due December 17, 2019.
The portfolio is being marketed by NorthMarq's Dallas Investment Sales team, consisting of Taylor Snoddy, Philip Wiegand, James Roberts and Eric Stockley.
Vineyards at the Ranch Highlights:
- All 1,260-units have upgrade potential, giving the new owner the option to implement an interior unit enhancement program. In addition, the properties have significant value-add opportunities in the common areas and exteriors.
- The portfolio is located in a top performing submarket with average 5.7 percent annual rent growth over the last five years and in an award-winning school district.
- The surrounding area has experienced 15 percent population growth within a one-mile radius since 2010.
According to the listing team, the location and the value-add story will be attractive to many investors. "The Vineyards at the Ranch portfolio provides an exceptional opportunity for a new group to instantly gain economies of scale in DFW or to expand an existing portfolio in the area. The Vineyards offering has a unique value-add story with multiple avenues, on a scale that is rarely seen," said Philip Wiegand, senior vice president-Investment Sales, Dallas.
"Dallas continues to be a favorite location for out-of-state and local buyers alike due to the region's consistently strong apartment fundamentals, job growth and population growth," said Taylor Snoddy, managing director-Investment Sales, Dallas.
Learn more at listings.northmarq.com.
About Us
As an investment sales and capital markets leader, NorthMarq offers commercial real estate investors access to experts in debt, equity, investment sales, and loan servicing to protect and add value to their assets. For capital sources, we offer partnership and financial acumen that support long- and short-term investment goals. Our culture of integrity and innovation is evident in our 60-year history, annual transaction volume of $13 billion, loan servicing portfolio of more than $57 billion and the multi-year tenure of our more than 500 people.
SOURCE NorthMarq
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