ARLINGTON, TX-King Properties of Miami has acquired a two-assetportfolio in Dallas/Fort Worth, outplaying at least a dozen offersfor the $11.2-million class B listing. In scoring the win, thebuyer has taken its second multifamily deed in four months in thecity.

Key to the hard push to win the deal is the 186-unit Misty RidgeApartments' positioning at 2300 Misty Ridge Circle in Arlington,which is right beside King's June buy, Ashley Village Apartments at2713 N. Collins St. The buyer also has scooped up the deed toRiverfall Apartments, a 144-unit complex at 7879 Riverfall Dr. inDallas. Given the field of buyers and current market conditions,it's a safe bet that the deal was nudging the asking price of IMTReal Estate Group of Sherman Oaks, CA.

The marketing drew several individual offers and portfoliobuyers, according to Brian R. Murphy, principal of Apartment RealtyAdvisors in Dallas. “It just made sense for the smoothness of thetransaction to keep them together,” he says.