Dallas, TX – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, announces the sale of five properties in Dallas, TX. Senior Associate of Multifamily, Danny McQuaid represented the seller and sourced the buyers. All five properties are in the Bishop Arts District in the heart of North Oak Cliff, Dallas.
The Bishop Arts District is known as Dallas’ most independent neighborhood and is home to over 60 independent boutiques, restaurants, bars, coffee shops, and art galleries. The seller in the 5-property portfolio is a private client. The buyers were local private clients with experience owning and operating apartments in the Oak Cliff and Bishop Arts sub-markets. Future development in the immediate areas of select properties within the portfolio are likely to bolster the long-term strength of these investments.
“I navigated through dozens of offers to land on three separate buyers for the five properties,” explained Danny McQuaid. “By sourcing three separate buyers, we were able to maximize proceeds and timing for the seller. The buyers were interested in adding the properties to existing portfolios in the sub-markets.” The buyers acquired the properties in order to infuse capital into the assets to improve them, allowing them to increase rents.
Matthews’ agent Danny McQuaid, had to navigate through many challenges at each of the properties such as roof, HVAC, structure, plumbing, city violations, etc. “Being that the portfolio included five properties with three separate buyers, this was a complex deal with many moving parts. Furthermore, all properties had to close within a small window of each other, which took a tremendous amount of diligence,” concluded Danny McQuaid. “I am thrilled that we were able to achieve a great price for the seller in a timely manner, while simultaneously fulfilling the needs of all the buyers involved in the portfolio sale.”
Senior Associate of Multifamily Danny McQuaid takes pride in his commitment to serving his client’s best interest. Matthews™ has closed roughly 20 transactions in the Oak Cliff and Bishop Arts submarkets in the past 12 months. For more information regarding the sale of the Dallas Portfolio or if you have any other questions relating to multifamily investments in the Dallas, TX area, please do not hesitate to contact Danny McQuaid. To view all current listings, please visit www.matthews.com.
Matthews Real Estate Investment Services™ is recognized as an industry leader in Shopping Centers, STNL, Multifamily, Leasing, Management, Portfolio Disposition and 1031 Exchange programs. The firm is headquartered in El Segundo, CA and serves clients throughout the United States and Canada. For more information, please visit www.matthews.com