Edentree Apartments, built in 1983 by Trammell Crow Co., was oneof the last assets in the area for the three-year disposition ofmultifamily properties accrued in the mid- to late 1980s and 1990sby the Frisco, TX-based Hall. "It was one of the most heavilyoffered on deals that I've seen in awhile," Tom Burns, associatepartner in Dallas for Phoenix-based Hendricks & Partners, tellsGlobeSt.com. "It's a good solid B and had a story to tell." The90%-leased complex at 1721 E. Frankford Rd. drew 18 offers during athree-month market run.

Eyeing a three- to five-year hold, the buyer of record isCarrollton Edentree LP, which plans to update unit interiors togain room for a rent hike. The ticketed changes, Burns says, couldgenerate $50 to $100 per month per unit "depending on the level ofupgrades that they do." Rent now averages $670 per month or 82cents per sf.

"The story is the repositioning," Burns stresses. "There'sdefinite ground to be picked up in occupancy. In order to do that,the interiors need freshened up."