Clover Capital Buys Double in Dallas
The properties total 374 units.
Clover Capital Partners has acquired Creekstone and Gable Point, two apartment properties totaling 374 units located at at 11110 and 11111 Woodmeadow Parkway, in the eastern part of Dallas. The sellers were the local Pardue family, who developed the assets in the 1980s. Clover declined to release a sales price.
According to Clover, the company plans to make a number of operational improvements and capital investments at the communities.
Built in 1982, Creekstone has 220 residences, a mix of studios, one- and two-bedroom units averaging 615 square feet. Common-area amenities include a swimming pool and two laundry facilities, along with 460 parking spaces. Some units have washer/dryer hookups and fireplaces. The property is 95 percent occupied, with an average rent of $1,185 according to Yardi Matrix data.
READ ALSO: Top 10 Markets for Multifamily Transactions
Constructed four years after Creekstone, Gable Point has 152 residences, including one- and two-bedroom units with a mean size of 696 square feet. The property has a similar array of amenities such as a swimming pool and laundry facilities, along with 312 parking spaces. Yardi Matrix reports occupancy at 90.1 percent. Rents average $985, the same source shows.
Both communities sit 11 miles to the northeast of downtown Dallas.
Clover worked with Institutional Property Advisors, a division of Marcus & Millichap, on the deal.
Why DFW fundamentals attract multifamily investors
Investors, fully aware of the growing population and employment in the DFW market, seem eager to buy. According to Multi-Housing News’ most recent study, Dallas ranked as one of the top markets for multifamily transactions in 2025, seeing more than $4.3 billion in sales volume that year. Compared to 2024, that amount increased by more than $100 billion.
The Dallas metro also claimed the first spot in MHN‘s ranking of the top 10 markets for multifamily deliveries.
Late last month, Kushner Cos. acquired Eastline Residences, a 330-unit community in Dallas from Convexity Properties, the developer. The 28-story tower was completed in 2021.
In early February, Tanglewood Property Group purchased Capitol at Stonebriar, a 424-unit multifamily property located suburban Frisco, Tex., a submarket of Dallas. Bascom Group sold the asset. A week prior, the Dinerstein Cos. acquired The Heights at Park Lane, a 325-unit apartment community located in Dallas. Sares Regis Group sold the property.
