Tides Equities has acquired the 370-unit Linear on Esperanza community in Dallas. The new owner will rebrand the property as Tides on Esperanza and invest approximately $8.5 million into its renovation. The seller was Presidium Group, while NorthMarq brokered the sale.
Completed in two phases in 1975 and 1980, the community offers a mix of studios, one- and two-bedroom units, ranging from 420 to 909 square feet, according to Yardi Matrix data. Amenities include a pool, playground, courtyard and clubhouse. A total of 660 parking spaces are also available.
Located at 13450 Esperanza Road, the property is some 13 miles north of downtown Dallas, via Interstate 75. Dallas/Fort Worth International Airport is 20 miles west, via Interstate 635. The “High Five” interchange that connects Interstates 75 and 635 is less than half a mile south of the property. Medical City Dallas Hospital is 3 miles south of the community. Several employment, retail, dining and entertainment options are available within a 1-mile radius.
Taylor Snoddy with NorthMarq brokered the sale, which represents Tides’ 31st acquisition in the Greater Dallas area and 105th in the Western US since 2016. Last month, the company bought the 521-unit Tides on 44th in Greater Phoenix for $122.5 million.