Texas CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Barvin Sells Only Dallas Property; Buyers Plan Upgrades
Houston-based Barvin sold the Oak Lawn Heights apartments, its only property in Dallas, to a local investor that plans further upgrades to the 137-unit property, the Houston Chronicle reported. Deal terms weren’t disclosed.
The 16-building complex, once considered a potential redevelopment site, was purchased by a partnership of Realty Capital Partners and BKE Acquisitions. Barvin acquired the circa-1970 property, near the Dallas North Tollway and Wycliff Avenue, in 2011 as the nation was recovering from the Great Recession.
“The dynamic infill location was key in our decision to purchase Oak Lawn Heights almost nine years ago,” said CEO Eric Barvin. “We have watched with excitement as this asset and location have continued to improve over our ownership period. Our investors’ expectations were greatly exceeded.”
The sale, which closed last month, was the company’s first disposition of the year. CBRE’s Chris Deuillet and Danny Baker marketed the property for Barvin.
For comments, questions or concerns, please contact Paul Bubny
- ◦Sale/Acquisition
- ◦Sale/Acquisition
