Comunidad Partners Acquires 437-Unit Multifamily Complex in Dallas
Comunidad Partners, a real estate investment firm that specializes in workforce / affordable housing communities in culturally diverse neighborhoods, has acquired Villas del Zocalo 4, a 437-unit affordable housing community in Dallas, TX. This acquisition is Comunidad’s eleventh asset in the Dallas-Fort Worth market. The transaction amount was not disclosed.
“The Dallas-Fort Worth market is closely aligned with our investment strategy, having undergone tremendous growth over the last several years,” says Antonio Marquez, managing partner at Comunidad Partners. “In fact, over the last four years, Dallas-Fort Worth has added more than 100,000 rentals, exceeding New York City, the second-highest-ranking market during that time period, by 24,000 units.”
The Dallas-Fort Worth market will soon lead the nation in in-migration, as it is expected to surpass 70,000 new residents this year. According to a recent report, as a result of people relocating to this metro area, apartment absorption will exceed deliveries in 2022, producing downward vacancy pressure and sustaining rent growth.
Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. Erik also worked six years in CRE public relations with Los Angeles-based Hoyt Organization, where he was a Senior Account Executive. He later joined Lee & Associates where he served as the Director of Corporate Communications. There ,in addition to his work with Lee’s CEO, he managed 57 offices nationwide and provided PR, social media and media training for the offices. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.