While Navigating Headwinds, Wellington Realty Closes 402 Unit Asset in Lake Highlands.
DALLAS, 2022 January – 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 Twelve 6 Ten at The Park Apartments, located at 12610 Jupiter Road, Dallas, TX.
The apartment complex sold in December 2021, Wellington Realty’s Managing Partner, David Shaffer, Partner, Caleb Jones, and Investment Sales Associates, Will Miller and Chase Thompson, who are all based in the company’s Dallas office, worked on the transaction. “The buyer, a local Dallas group, purchased this asset alongside four other value-add properties all located in DFW. It was a delicate process and there were a lot of moving pieces, but we got it done.” – Chase Thompson.
Twelve 6 Ten is located near the intersection of Jupiter Road & Northwest Highway with easy access to Highway 75 and 635. “Located inside the Dallas 635 loop, the asset benefits from the nearby entertainment and employment options such as: Dallas Arboretum, Botanical Gardens, White Rock Lake, and North Park Center Mall to name a few. The areas recent popularity among the young, high-earning millennials has positively affected the growth in household income and home sale prices in the Lake Highlands area,” said Will Miller.
Built in 1986, Twelve 6 Ten is a well-located and maintained asset with rental upside and strong going-in yield. New ownership will commit to significant exterior capital improvements and continue the proven interior renovation program. “There are so many positive trends to be excited about in the metroplex, but population and employment growth are two that we’re excited about in relation to this asset.” said Caleb Jones.
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.