Presidium Adds Two Communities to DFW Collection
- Dec 06, 2016
Dallas—Presidium Group LLC has expanded its DFW portfolio by 640 units through the acquisition of two multifamily communities in Dallas.
Linda Vista and Carlton Court are both located in North Central Dallas, diagonally opposite of the exchange of Interstate 635 and Highway 75, offering easy access to Dallas’ premier retail and shopping venues, as well as various employment centers. Furthermore, the two properties are located in close proximity to another community owned by Presidium, The Thread.
Linda Vista is an 18-property community built in 1980 that comprises 370 units. Residents can choose from one- and two-bedroom floorplans averaging 667 square feet. Amenities include a swimming pool, three laundry facilities and private balconies/patios. Presidium plans to rename the community Linear.
Carlton Court is a 15-building Class B asset completed in 1995 and totaling 270 units. The property offers one- to three-bedroom floorplans averaging 833 square feet. Amenities feature a clubhouse, two swimming pools, fitness center and mature landscaping. Under the new ownership the community will be rebranded as Cottonwood at Park Central.
“The properties are a great addition to our existing portfolio in the submarket,” Co-CEO Cross Moceri said in prepared remarks. “Operating three sizeable assets within a quarter-mile radius will allow us some economies of scale to maximize cash flows. In addition, our value-add program will ensure tenants are receiving a quality rental product.”
Images courtesy of Yardi Matrix