DALLAS, TEXAS - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing on the multihousing industry, is pleased to announce the sale of The Woods of Five Mile Creek Apartments, a 214-unit Class ‘A’ multihousing community located in Dallas, TX.
The community was acquired by an undisclosed buyer.
The Dallas-based ARA brokerage team of Brian O’Boyle, Jr., Brian O’Boyle, Sr., and Brian Murphy led the exclusive marketing efforts for the property on behalf of the builder and seller, Dallas, TX-based Guy E. Brignon of Glenbrook Residential, Inc in partnership with J. P Morgan Capital Corp. The Woods of Five Mile Creek traded at an undisclosed price.
The property, which was built in 2004, is located just 15 minutes south of the Dallas Central Business District, and is easily accessible by Interstate 35 / RL Thornton Freeway, Interstate 20, Highway 67 / Marvin D. Love Freeway, and Loop 12 / Walton Walker Boulevard. The property is home to fantastic community amenities such as a professionally-designed clubhouse with entertainment lounge, and the best interior luxuries in the submarket -- 9’ ceilings, crown molding, garden tubs in all master bathrooms, and full-size washer and dryer connections in each unit.
“This is one of the nicest multi-family properties in Dallas’s southern sector,” said O’Boyle Sr. “The heavily treed site, which won the City of Dallas Arborist Award for Tree Preservation, gives the community a park-like feel, while still offering residents the convenience of a location near the area’s major traffic arteries.”
Occupancy at the time of the sale was 95.3%.
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Brian O’Boyle, Sr. at oboyle@ARAusa.com or Robyn Randall at rrandall@arausa.com or 972.934.3400.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace resulted in an annual production volume of $9.5 billion in real estate transactions in 2012. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com