Second-quarter sales for the sector were somewhat sluggish sothe uptick validates brokers' predictions that closings would berelatively brisk in Q3. The off-market trade was TealwoodApartments, a 20-year-old class B asset at 6400 Tealcove Dr. inArlington. Also sold were two class C's: the 144-unit Plaza at 400Ralph St. in White Settlement and 114-unit Shady Valley SquareApartments at 3206 Green Tee Dr. in Pantego.

Arlington continues to be a hot pick of the day due to therising Dallas Cowboys' stadium beside the Texas Rangers' ballpark.Tealwood Apartments has been sold to a 1031 exchange investor fromPortola Valley, CA, who used proceeds from an office building salein Denver to pick off the 5.35-acre Tealwood Apartments at theintersection of US Hwy. 287 and Interstate 20 where a Wal-MartSupercenter is coming out of the ground. Its seller was TealwoodArlington Associates Ltd., a Dallas developer who built it in1985.

The complex, in line for cosmetic upgrades, was 90% leased atsale time. Its one- and two-bedroom units average 643 sf; rents are$500 to $750 per month.