Conti Organization Acquires Dallas Community
- Sep 08, 2020
Private multifamily property owner-operator Conti Organization has acquired garden-style apartment community Vine in Arlington, Texas. Situated at 711 Trinity Circle, in a suburb centrally located between Dallas and Fort Worth, Vine is a 40-year-old property on a 21-acre parcel, comprised of 23 three-story buildings.
The apartment community’s 420 units are split between one- and two-bedroom floorplans. Apartments range in size from 701 to 1,037 square feet. Features and finishes of Vine include fireplaces, above-standard ceiling heights, high-speed Internet access, semi-private entries and private patios or balconies. Among the most noteworthy common-area amenities is a pair of swimming pools.
With unique access to Dallas and Fort Worth, Vine offers a convenient option for renters who need workforce housing close to job centers. Major area employers include American Airlines, Amazon, General Motors, GM Financial and Bell Textron, among many others.
The apartment community gives residents direct access to the River Legacy Trail. Other nearby parks and recreation areas include River Legacy Parks, UT Arlington Planetarium, Mountain Creek Lake Park and Trinity River Mountain Creek Preserve. Three shopping centers are accessible within an 18-minute walk, and a trio or colleges and/or universities can be reached in no more than a 26-minute drive. By car, Dallas-Fort Worth International Airport is 22 minutes away, while Dallas Love Field can be reached in 33 minutes.
Vine is Conti Organization’s 43rd acquisition within the Lone Star State. The acquisition swells the company’s current Texas portfolio to more than 9,000 units in 31 properties. CBRE senior vice president & co-leader of the Dallas multifamily team Daniel Baker and Dallas multifamily team Senior Associate Chandler Sims brokered the Vine acquisition.
Last week, CBRE brokered the sale and arranged financing for the acquisition of an Alexandria, Va., apartment tower.