Tuesday, December 03, 2013
Investment partnership buys apartments near Telecom Corridor
A longtime Dallas-area apartment investor has made a purchase near Richardson’s Telecom Corridor.
Performance Properties LLC acquired the 416-unit Vista Buena Apartment Homes at 13350 Maham Rd in North Dallas.
The apartment community is almost fully leased and was built in the 1970s.
“This is a classic value-add property with a good location and high occupancy,” David McQuaid, principal of Dallas-based Performance Properties, said in a statement.
The investor bought the property for a new partnership that was formed to buy apartments priced between $10 million to $20 million. Terms of this sale were not disclosed.
For the rest of the article: http://bizbeatblog.dallasnews.com/2013/12/investment-partnership-buys-apartments-near-telecom-corridor.html/
By Steve Brown