Portfolio Consists of Four Newly Renovated Apartment Communities

Dallas, TX— Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, completed the sale of the San Jacinto Portfolio, a 95-unit multifamily portfolio spanning four boutique apartment assets. The properties each have unique identities in architecture, design, and theme. Senior Associate Jared Rice and Associate Harris McKay represented the seller in the transaction.

 

The seller, Doug Huffman of HB Capital Dallas LP & Huffman Realty Advisors LLC, was looking to relinquish the portfolio and reinvest the capital into new redevelopment projects closer to home. Huffman took the buildings down to the studs and each unit now boasts stainless steel appliances, granite countertops, and fully upgraded plumbing and wiring. The property was purchased by Brick Lane Capital, a real estate investment company, that achieved its goal of scaling quickly in the highly coveted East Dallas submarket through this sizable portfolio acquisition.

 

“The buyer was able to purchase all four properties with attractive agency financing and rates significantly below what is currently available in today’s market,” said Rice. “Closing with our first buyer allowed us to maximize pricing and eliminate the risk of remarketing the property in a rising interest rate environment.”

 

The apartment portfolio features two fitness facilities, two pools, a dog park, and a rooftop terrace, located in East Dallas, just blocks away from Downtown.

 

“These four-apartment communities ultimately operate as an affordable alternative to the neighboring Class A apartment buildings in the area,” said Rice.

 

For more information, or to contact Jared Rice and Harris McKay, please visit www.matthews.com.

 

 

 

About Matthews™

Matthews Real Estate Investments 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. Based out of Nashville, TN, and strategically positioned with over 400 agents and support staff in 15 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.