A two-property multifamily portfolio in Dallas, Texas, sold to a limited liability company for an undisclosed price.
The portfolio, purchased by Lagovent Real Estate Group LLC, comprises the 440-unit Wimberley Park and the 512-unit Camelot Village.
The seller’s identity was not disclosed.
The garden-style, class B assets were constructed in the 1980s and are situated on expansive lots accented by mature landscaping. The overall condition of the assets, which have little to no deferred maintenance, and the strong rental metrics of the surrounding areas have resulted in current and historical occupancy rates in excess of 90 percent, according to a press statement.
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