Monday, January 04, 2010

Atlas Properties buys more than half of Oak Lawn condo complex

Fort Worth-based investor Atlas Properties said Monday that it has bought more than half of the Piazza Siena condominium complex in Dallas’ Oak Lawn neighborhood.

The private investor acquired 56 units in project at 3102 Kings Road in a partnership with Dallas-based Trinity Private Equity Group.

Piazza Siena is a 96-unit development built in 2001.

The condos will be sold to owner occupants after undergoing some improvements. The units will be “priced significantly below historical prices and competing projects," Atlas Properties president Adam Blake said. Units will start at less than $100,000 for a one-bedroom.

Real estate service firm Transwestern arranged the bulk sale.

Atlas Properties has been in business since 2004.

Dalla Morning News