RockFarmer Adds Another Dallas Multifamily Asset to Crop

New York City-based RockFarmer Properties recently acquired The Residence at Lake Highlands, a 247-residence garden-style multifamily development located at 9857 Audelia Rd. in Dallas for an undisclosed price. This transaction marks RockFarmer Properties’ third venture into the Dallas multifamily market and the fifth acquisition made by its recently launched Opportunity Fund V.

“Dallas remains one of the healthiest metros in the U.S., attracting an affluent tenant base drawn by the city’s employment opportunities, and endless entertainment and cultural offerings. The Lake Highlands submarket has directly benefited from this significant demand,” said Brian Getzler, executive vice president and head of acquisitions at RockFarmer Properties.

RockFarmer Properties plans to add value to the asset through unit renovations and amenity/common area enhancements.

“The Residence at Lake Highlands is a well-located asset with a lot of upside potential. We see it as an excellent investment moving forward,” said John Petras, principal of RockFarmer Properties. “We hope to continue the expansion of RockFarmer’s platform in Texas and across the Sunbelt states, deploying capital from our newest opportunity fund. It’s an exciting time.”

Taylor Snoddy of NorthMarq represented RockFarmer Properties and the seller, Nitya Capital, in the transaction. William Hancock of NorthMarq arranged the debt financing on behalf of RockFarmer Properties.