The two tower multifamily high-rise has been through some changes since the second tower was completed in 1960. Constructed as office buildings for Fidelity Union Life, it was converted to apartments in 2006, and now has 440 units and 10,000 square feet of retail. The buyers are a group of New York investors.
The sellers, Olympus Property, put $90 million into renovations on the property since buying it in 2014. Project amenities now include rooftop swimming pool, indoor putting lounge, fitness center and dry cleaning service.
At Akard and Bryan, the apartment buildings are in the middle of the city center, “The area is one of the largest employment centers in the Metroplex and Mosaic Dallas directly benefits from its central location close to all of Downtown’s amenities and employers,” says Drew Kile with Institutional Property Advisors, the group who represented the seller.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.