Monday, October 20, 2014

Presidium Acquires 3 Apt. Communities

The Villa Jolla, located in northeast Dallas, has 216 units.
DALLASPresidium Group LLC, a real estate investment and management firm, recently acquired more than 900 apartment units in the Dallas-Fort Worth area. 
The properties include Ridgmar Square, a 332-unit complex in west Fort Worth; Vineyards Apartments, a 353-unit complex in Irving; and Villa Jolla, a 216-unit property in northeast Dallas.
Presidium Group plans to conduct extensive interior and exterior renovations in order to reposition the assets within each submarket. Presidium will also rebrand the properties within the next few months.
“We’re excited to continue our corporate growth with the acquisition of several well-located assets that offer tremendous upside potential,” says Presidium co-CEO Cross Moceri. “Despite the aggressive environment in the Texas multifamily arena, we continue to find compelling acquisition opportunities throughout Texas. Furthermore, North Texas has seen strong economic and population growth in recent years and this growth is projected to continue, making it an ideal place to invest in multifamily real estate.”
Presidium now owns and operates more than 3,000 apartment units in the Dallas-Fort Worth area and 10,000 units in the state of Texas.
 By Anna CaplanSouthwest