Wellington Realty Announces Sale of La Bella Palms Apartments
Purchaser Acquires 117-unit Property in Dallas, Texas
DALLAS, July 12, 2017 –Wellington Realty, a commercial real estate services company with brokerage and management capabilities serving the four major markets in Texas, announced the successful sale of La Bella Palms Apartment complex, located at 9450 Royal Lane in Dallas, TX.
The 117-unit complex was up for sale and closed in June 2017. Caleb Jones, Tammy Shaffer, and David Shaffer of Wellington Realty procured the buyer and sold the asset. The investment sales team created value for the buyer through its in-depth knowledge of the Texas market and its relationships within the Dallas market.
“Our team continues to develop relationships necessary to identify buyers at not only the local level, but the national and international level as well,” said Tammy Shaffer, Brokerage Associate, Wellington Realty. “For La Bella Palms, we identified an out-of-state buyer, putting them into a property that creates long-term value and wealth.”
La Bella Palms is located in the Lake Highlands Area between highways I-635 and North Central Expressway and approximately 15 minutes from downtown Dallas. The community is conveniently located near Northpark Center Mall, Texas Health Presbyterian Hospital Dallas, and an array of Dallas ISD schools and higher education, such as SMU, UT Dallas, and Richland College. The apartment complex’s amenities include a swimming pool and laundry facilities.
“Lake Highlands is one of the more dynamic sub-markets in DFW,” said Caleb Jones, Brokerage Associate, Wellington Realty. “Located on the corner of Royal and Abrams, La Bella Palms is a true value-add property due to the growth and gentrification of Lake Highlands.”