SPI Advisory acquired Winsted at White Rock, a 314-unit Class-A garden-style multifamily property in the affluent Lakewood neighborhood of Dallas.
This marks SPI’s 49th acquisition in DFW since its founding in 2014.
Built in 1996, Winsted at White Rock is well-maintained and was only partially renovated by its previous owners, representing a significant value-add opportunity. To effectively compete with newer construction in the area, SPI plans to fully renovate the remaining classic units to a premium level, enhance common areas and amenities, and finish installing washers and dryers in all units.
Located in the highly sought-after Lakewood neighborhood, the property is zoned to Lakewood Elementary, one of Dallas’ top-rated schools, and is within walking distance of White Rock Lake and the Dallas Arboretum. With an average household income of $194K within a one-mile radius, and an average Lakewood home list price of $1.9M, the area’s demographics reflect its affluence and strong market demand. These location benefits, combined with the submarket’s limited new development due to high barriers to entry, made this investment highly attractive.
