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Edentree Edentree is a 360-unit complex at 1721 E. Frankford in Carrollton that was sold to a 1031 buyer.

DALLAS—The multifamily sale environment is so intense that some properties are being sold within two years, says a brokerage expert. This was the case with 12 apartment communities that recently sold in North Texas totaling 3,200 units valued at $275 million.

“Investors are capitalizing on market opportunities and the market continues to perform,” Taylor Snoddy, Transwestern managing director, tells GlobeSt.com. “They are capitalizing by renovating with higher-end finishes, spending anywhere from $5,000 to $8,000 per unit, so you’re almost getting an A asset for B rents.”

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Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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