(Read more on the multifamily market.)

CARROLLTON, TX-In a quiet hand-off, Equity ResidentialProperties Trust has ended a seven-year hold of the 400-unitDawntree Apartments, selling the Denton County asset to aneighboring owner of 360 units. Comparable complexes in thesubmarket are selling for $45,000 to $50,000 per unit.

Hendricks & Partners' Dallas team of associate partner TomBurns and senior investment adviser Jay Gunn facilitated the saleof the 1834 E. Peters Colony Rd. complex. "We made an unsolicitedoffer," Burns says, citing a chain of events that put the deal onthe Chicago-based seller's desk right before the capital markettightened and after the buyer's earnest money went hard.

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Dallas/Fort Worth
Multifamily
National