Unlike last week's acquisition, this week's buy has upside inthe 15% vacancy at the Sierra Trails at 2800 Las Vegas Trail inWest Fort Worth, John Barker with Marcus & Millichap in Dallastells GlobeSt.com. Once again, Majestic Realty of Dallas has beenhired to oversee the asset. For previous story, click here.

The buyer assumed a loan pushing $1.7 million with GMAC MortgageCorp. of Horsham, PA and applied the balance of his gain from theCalifornia sale to close the deal, says Barker who along withMarcus & Millichap's Chris Deuillet closed the sale for thebuyer. Another $150,000 has been ticketed for upgrades to the 64one-bedroom apartments, 48 two-bedroom units and four townhouses.The units of 770 sf, 1,100 sf and 1,200 sf rent for $456, $574 and$627 per month, respectively.

The seller is a limited partnership, led by Robert Spencer ofProvo, UT, who acquired the class C holding in April 2003. TarrantCounty has the 5.3-acre asset assessed at $2 million.