SOLD
RockFarmer Properties Acquires 247-Unit Multifamily In Dallas For Opportunity Fund V
9857 Audelia Road
MultiFamily
196,186 SF
196,186 SF
Sold 1 year ago
Summary
Sale
TEXAS
MultiFamily
196,186 sqft
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.
Players
All
3
Agents
2
Agencies
1
Details
SOLD
IMAGE: John Petras, George Michelis & Brian Getzler
DATE: 10/29/2021
ADDRESS: 9857 Audelia Road
MARKET: Dallas
ASSET TYPE: Multifamily ~ UNITS: 247 ~ SF: 196,186
BUYER: RockFarmer Properties - George Michelis, John Petras, & Brian Getzler
BROKERS: Taylor Snoddy & Will Hancock - NorthMarq
NOTES: This transaction marks RockFarmer Properties’ third venture into the Dallas multifamily market – and marks the fifth acquisition made by RockFarmer’s recently launched “Opportunity Fund V.” Previously, in June 2021, the company purchased two adjacent gated garden-style multifamily rental communities in Dallas—98Fifty and Apex—boasting 196 and 244 units, respectively.
RockFarmer Properties plans additional acquisitions of value-add commercial and multi-family assets across the Dallas-Fort Worth, Austin and San Antonio, Texas, markets moving forward. In the last 6 months, RockFarmer has acquired or sold more than $250 million in assets nationwide.
“Dallas remains one of the healthiest metros in the U.S., attracting an affluent tenant base drawn by the City’s employment opportunities and endless entertainment and cultural offerings. The Lake Highlands submarket has directly benefited from this significant demand as residents continue to seek out well-managed multifamily communities offering convenience, great finishes and a comprehensive amenities package,” said Brian Getzler, Executive Vice President and Head of Acquisitions at RockFarmer Properties.
“We are thrilled to have acquired yet another significant, high-quality multifamily community in the Dallas-Fort Worth area,” said George Michelis, Principal of RockFarmer Properties. “RockFarmer Properties remains bullish on value-add multifamily developments located in major Texas metropolitan communities.”View on map
Loading...
Address9857 Audelia Road
Comparables
Reset filters to show results.
Contact
Get in touch with the broker you want