Dallas, TX – Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of a three-property multifamily portfolio in East Dallas. The properties are located at 4810, 4815, and 4823 Gaston Avenue, Dallas, TX. The deal represented one of the largest Class-C multifamily portfolio sales in the Old East Dallas submarket year-to-date. Associates Jared Rice and Jedidiah Meisner, and Harris McKay handled the transaction.
Matthews™ represented the seller, a local private multifamily investment firm, who was interested in capitalizing on the current cap rate compression in the DFW apartment market. Utilizing Matthews’ proprietary marketing platform, the brokers maximized exposure of the portfolio for their client and brought the most qualified group forward to acquire the assets and ultimately surpass the seller’s price expectation.
“Matthews’ marketing allowed us to reach a greater buyer pool and demonstrate the value-add opportunities these assets offered,” Rice said. “The Dallas-Fort Worth marketplace is rapidly growing, presenting opportunities for investors to capitalize on rent differentials between older vintage apartment stock and recently renovated properties within these submarkets.”
The buyer acquired the assets to expand their investment portfolio in Texas and further their value-add business model. This is the first investment the buyer has purchased in Dallas, allowing them to plant their flag and acquire substantial market share in the Old East Dallas submarket.
“This portfolio fits the buyer’s long-term investment goals and target strategy,” Meisner said. “We were happy to present a great opportunity to the buyer while also allowing them to further other strategic objectives.”
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 400 agents and support staff in over 13 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
Recent Media & Thought Leadership