Wellington Realty Finds Perfect Buyer for Dallas Apartment Complex.
Wellington Realty Announces Sale of Woodside Bridle Path Apartments
Purchaser Acquires 311-unit, 1982 built Apartment complex in Dallas - DFW
DALLAS, 2021 May – 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 Woodside Bridle Path Apartments, a 311 unit apartment complex located at 13660 C F Hawn Freeway, Dallas, TX.
The apartment complex sold in May 2021, and Wellington Realty’s Managing Partner, David Shaffer, Partner, Caleb Jones, and Investment Sale Associates, Will Miller and Troy Sanders, who are all based in the company’s Dallas office, worked on the transaction. “Although we started the marketing process at the tail-end of a global pandemic, this was as smooth a transaction as they come by. Our team worked tirelessly and generated 23 total offers from both local and national firms, ultimately identifying a strong buyer. With their help, we made it happen,” said Caleb Jones
The new owner purchased an untouched, value-add multifamily complex at 87% occupancy. This Dallas-based investment group has big plans for the property as they are implementing a large value-add program and completely rebranding the asset. “What made the buyer so attractive during the best and final process, based on our experience, was their vision and plan for the asset so we knew they were committed to the project. We’re excited to watch them implement their strategy,” said Troy Sanders.
Built in 1982, Woodside Bridle Path is located 15 minutes from Downtown Dallas with great visibility off U.S. 175 Highway in Dallas. This sub-market is a highly concentrated industrial hub of the Dallas/Fort Worth metroplex and is supported by many other nearby employers including Dal-Tile, Stephens Transport, Walmart, and Amazon. “This asset should perform very well over the next few years. There is very little supply within 2-3 miles of the property and demand over the last 2 years has remained strong and consistent. With zero multifamily deliveries scheduled in the area and over 1,000,000 sf. of planned industrial developments, that narrative will stay true for the foreseeable future,” said Will Miller.
ABOUT WELLINGTON REALTY
Wellington Realty offers commercial real estate brokerage and property management services in Dallas, Houston, Austin, and San Antonio. The firm specializes in real estate investment sales, leasing services, property management, and asset management for office, industrial, retail, and multifamily properties. For more information, visit www.wellingtonrealty.com.