536-Unit Dallas-Area Community Trades

Completed in 1985, the 36-building property is 12 miles from downtown.

6500 South

Intercapital Group has sold 6500 South, a 536-unit Class B multifamily community in suburban Dallas. Sahara Equity acquired the asset, financing the purchase with a $38.1 million, 10-year Freddie Mac loan originated by Bellwether Enterprises, according to Yardi Matrix data. Marcus & Millichap represented the seller.

Located at 6490 S. Cockrell Hill Road and complered in 1985, the property is close to Interstate 20 and roughly 12 miles from downtown Dallas. Important employers in the area include Southwest Center Mall, Dallas Executive Airport and Methodist Charlton Medical Center.

The community, comprising 36 two- and three-story buildings across 24.5 acres, encompasses one- and two-bedroom units with an average size of 715 square feet, Yardi Matrix also shows. Community amenities feature a fitness center, a clubhouse, three swimming pools, four laundry facilities, a basketball court, a playground, a business center and 600 parking spaces. Apartment interiors include vaulted ceilings, washer/dryer hookups and monitored security, as well as fireplaces available in select units.

Marcus & Millichap Senior Managing Director Al Silva and First Vice President Ford Braly represented the seller and procured the buyer. In a prepared statement, Braly remarked that the Dallas-Fort Worth multifamily market has high levels of activity and demand remains strong for assets with high occupancy and convenient access to entertainment and retail. The Silva Braly team has recently also brokered the sale of another three Metroplex properties.

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