GREA (Global Real Estate Advisors) has announced the sale of three multifamily properties in the Dallas-Ft. Worth Metroplex totaling 217 units. Avalon Apartments, 75 units in Arlington; Tuscany Square, 70 units in Arlington; and Regency Apartments, 72 units in Arlington.
GREA Executive Managing Director Mark Allen represented the sellers and assembled the portfolio for a single, out-of-state buyer.
Each property was built in the 1960s, but has not been modernized in several years. The new ownership plans to vastly improve each community to provide higher quality housing for Arlington’s residents.
Arlington boasts a thriving rental market with consistent high growth and occupancy. The city is ranked in the top 15 of the safest and most livable cities in the country, drawing new residents looking to take advantage of its great amenities and growing job base.
Dallas – Fort Worth continues to soar to the top of the list of the country’s biggest real estate investment markets. Over the past four quarters, DFW was No. 1 in the nation in multifamily investments. The region saw $29.2 billion in total volume, accounting for 7.8% of the U.S. total.
