GRAND PRAIRIE, TX—The DFW metroplex has a diversified economy and geographic appeal that continues to bolster economic and population growth. These traits give the area an edge when it comes to investor interest and future investment commitment.
One such investment is a 348-unit garden-style apartment community in Grand Prairie. The property, built in 1984, was known as The Fairways Apartments when the Kislak Organization purchased it in March 2014. Kislak focused on improving operations and management, and rebranded the property as Three60 North Apartments in mid-2015. The firm has recently sold the property to an unidentified party with undisclosed terms. Moran and Company Southwest represented Kislak in the sale.
“We purchased the property as an opportunistic deal three years ago,” said Tom Bartelmo, president and CEO of the Kislak Organization. “As we continue to elevate the Kislak multifamily portfolio, the timing was right to sell Three60 North Apartments. Kislak remains committed to the Dallas-Fort Worth Metroplex, and we are seeking new deals and opportunities in this strong market.”
Among the opportunities since June of last year, Kislak acquired two multifamily properties in the popular Uptown neighborhood: McKinney Uptown Apartments and Routh Street Flats. With these two properties and The Arbors of Las Colinas in Irving, the Kislak portfolio includes 760 units in the Dallas-Fort Worth market.
“The metroplex has a well-diversified economy within the geographic center of the booming Sun Belt. These two characteristics help fuel both economic and population growth–two vital pillars of the multifamily business,” Bartelmo tells GlobeSt.com. “There is a business-friendly culture in Texas and in Dallas-Fort Worth that has drawn a wide variety of industries and professions, and, along with that, a highly diverse workforce. This attractive combination has made Dallas-Fort Worth one of the top markets in the country, and, we believe, positioned it for solid growth for the foreseeable future.”
The Kislak Organization was established in 1906 in Miami Lakes, FL.
GRAND PRAIRIE, TX—The DFW metroplex has a diversified economy and geographic appeal that continues to bolster economic and population growth. These traits give the area an edge when it comes to investor interest and future investment commitment.
One such investment is a 348-unit garden-style apartment community in Grand Prairie. The property, built in 1984, was known as The Fairways Apartments when the Kislak Organization purchased it in March 2014. Kislak focused on improving operations and management, and rebranded the property as Three60 North Apartments in mid-2015. The firm has recently sold the property to an unidentified party with undisclosed terms. Moran and Company Southwest represented Kislak in the sale.
“We purchased the property as an opportunistic deal three years ago,” said Tom Bartelmo, president and CEO of the Kislak Organization. “As we continue to elevate the Kislak multifamily portfolio, the timing was right to sell Three60 North Apartments. Kislak remains committed to the Dallas-Fort Worth Metroplex, and we are seeking new deals and opportunities in this strong market.”
Among the opportunities since June of last year, Kislak acquired two multifamily properties in the popular Uptown neighborhood: McKinney Uptown Apartments and Routh Street Flats. With these two properties and The Arbors of Las Colinas in Irving, the Kislak portfolio includes 760 units in the Dallas-Fort Worth market.
“The metroplex has a well-diversified economy within the geographic center of the booming Sun Belt. These two characteristics help fuel both economic and population growth–two vital pillars of the multifamily business,” Bartelmo tells GlobeSt.com. “There is a business-friendly culture in Texas and in Dallas-Fort Worth that has drawn a wide variety of industries and professions, and, along with that, a highly diverse workforce. This attractive combination has made Dallas-Fort Worth one of the top markets in the country, and, we believe, positioned it for solid growth for the foreseeable future.”
The Kislak Organization was established in 1906 in Miami Lakes, FL.
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