The buyer of record, Westmoreland Road Apartments LP, hassecured its first, but not its last multifamily asset inDallas/Fort Worth. At least one other property is under contract,according to Tom Burns, associate partner for Hendricks &Partners in Dallas. He and Jay Gunn, a Hendricks' senior investmentadviser, represented the seller, the Strand Co. of Vancouver, BC,which was marking its 10th year as owner of Park Village Apartmentsat 7575 S. Westmoreland Rd. when it made the pass.

Burns says the 96%-leased complex is poised for a rent increasedue to occupancy, condition and the market in general. The going-inplan, he tells GlobeSt.com, is to run it as-is, make moderateimprovements to unit interiors and then boost rents. Even theoverseer, Mayan Management Co. of Dallas, has been kept in place ashas the property name for the 23-year-old Park Village.

The 24-building complex is positioned on 13.9 acres nearInterstate 20 and US Hwy. 67. It has one-, two- and three-bedroomunits ranging from 582 sf to 1,185 sf. In-place rents are $510 to$875 per month, with 29 detached garages available for anadditional fee.