RockFarmer Properties Acquires 247-Unit Multifamily In Dallas For Opportunity Fund V

The recent sale in Dallas involves a multifamily property located at 9857 Audelia Road. This property has a total of 247 units and spans across 196,186 square feet. The transaction took place on October 29, 2021.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: Not specified
• Address: 9857 Audelia Road, Dallas
• Market: Dallas
• Units: 247
• Square Footage: 196,186

The buyer in this transaction is RockFarmer Properties, represented by George Michelis, John Petras, and Brian Getzler. The seller's identity or representation is not mentioned in the provided information. Additionally, the brokers involved in the deal are Taylor Snoddy and Will Hancock from NorthMarq.

RockFarmer Properties has been actively entering the Dallas multifamily market, with this being their third venture in the area. They have recently launched their "Opportunity Fund V" and have acquired multiple assets across the Dallas-Fort Worth, Austin, and San Antonio markets. In the last six months alone, RockFarmer has completed over $250 million worth of acquisitions nationwide.

Brian Getzler, the Executive Vice President and Head of Acquisitions at RockFarmer Properties, highlights the appeal of Dallas as a healthy market, attracting affluent tenants due to employment opportunities and a vibrant cultural scene. The Lake Highlands submarket, in particular, has seen significant demand from residents seeking well-managed multifamily communities offering convenience, quality finishes, and comprehensive amenities.

George Michelis, Principal of RockFarmer Properties, expresses their optimistic outlook on value-add multifamily developments in major Texas metropolitan areas, further emphasizing their commitment to such projects.