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DALLAS-A local condo converter has scored the win for a 153-unitcomplex in West Oak Lawn after getting caught in a bidding war in asecond marketing round. The face-off brought $35,000 more than the$6.5-million ask, but the plan is to strip the complex down to itsbones and invest millions more for the rebuild.

San Carlos Associates LP, led by Steve Baxter, is huddling overthe rebuild plan for the 12-building San Carlos Apartments at 5010Maple Ave., a 5.3-acre tract with 381 feet of frontage. The asset'slocation stirred interest from local, regional and national firmsbecause it's situated right across the street from ParklandMemorial Hospital's proposed 75,000-sf ambulatory surgery centerand 670,000-sf neo-natal facility, which is awaiting funding. "I'veonly had three to five deals in my career that generated this muchoutside interest during escrow," says Peter Hartnett, associatepartner for Hendricks & Partners in Dallas.