Luxury apartments purchased in Dallas

Investor attracted by neighborhood demographics

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GID Investment Advisers LLC acquired the 331-unit Turtle Creek Villas luxury apartment building in Dallas, Texas. The value of the transaction was not disclosed. The building, acquired on behalf of GID affiliate Windsor Realty Fund-V Acquisition LLC, will be renamed Windsor at Turtle Creek. Completed in 1999, the property includes a swimming pool and spa, fitness center, convenience store, library/business center, and covered parking. Thad Palmer, director of Multifamily Investments and vice president of Real Estate Acquisitions for GID commented, "Dallas continues to be high on our list of target markets, and the Uptown area offers the highest-quality demographic trends in Dallas. ..." Windsor Realty Fund-V is an equity co-investment joint venture between GID and the California State Teachers' Retirement System. The relationship covers the entire United States. GID has full discretion over all acquisition and disposition decisions. The General Investment & Development Cos., based...