On the market for $7.5 million, the 318-unit Skyline PlaceApartments at 4700 Wimbelton Way in East Dallas brought 30 offersin a four-month marketing period that ended with eight full-pricebids, Tom Warren, associate partner in Dallas for Phoenix-basedHendricks & Partners, tells GlobeSt.com. Scoring the win was aBakersfield, CA-headquartered investment group, State Road SkylineLP-Arppel Inc.

Next month, a single buyer is lined up to scoop up five of thesix remaining assets in the 3,500-unit sell-off of class C andclass C-plus properties. Warren says the sale culminates a 10- to12-year hold. "It was time to get out," he explains of theturnover. The first to go was the 232-unit LaSalle Crossing at 1600LaSalle Dr. in Sherman, which sold a few months ago.

Part of the gain will be deployed as 1031 Exchanges, whichWarren is lined up to run for the Del Mar partnership. "The sellerwill reinvest their proceeds in Texas," he stresses.