Arlington Park Apartments, a 92%-leased complex at 3101-121 E.Park Row Dr., has passed to Brett C. and Denise D. Heron of LosAngeles, who took the last local piece of real estate from 21-yearowner, Phil Gray Lifetime Trust of San Luis Obispo, CA. The Herons,amassing the block in the past year, also own the 200-unit BrandonOaks at 1415 Wiscasset Dr. and 200-unit Spanish Oaks at 3025 E.Park Row Dr. "His game plan is to pull all three propertiestogether and utilize economies of scale," Jay Gunn, seniorinvestment adviser for Hendricks & Partners in Dallas, tellsGlobeSt.com.

The acquisition's location goes beyond the obvious. It'spositioned in a pocket being repositioned due to the projectedimpact from the under-construction Dallas Cowboys Stadium, set tocome on line in time for the 2009 football season. Gunn says amajority of the multifamily assets in the corridor have changedhands in the last 18 months.

"We just think Arlington is well positioned to take off,"stresses Tom Burns, associate partner in Hendricks & Partners.Arlington Park is located just blocks from US Hwy. 360, a primarynorth-south freeway, and at the edge of the proposed $600-millionGloryPark mixed-use development that will surround the Interstate30-fronting stadium and its neighbor, Rangers Ballpark.