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Texas  + Dallas-Fort Worth  + Apartments  | 
Magma Equities Acquires 562 Units

Magma Equities Acquires 562 Units in Two Separate Off-Market Transactions

Multifamily investment firm Magma Equities, in two separate off-market transactions, recently acquired apartment communities in Dallas and Fort Worth representing 562 apartment homes, two of five acquisitions the firm expects to close in the Dallas/Fort Worth MSA by year-end. To support its growing investment activities in Texas and the Central United States, Magma also announced it has established a regional headquarters in Dallas under the direction of Tom Short who joined the firm as partner.

“No matter how large or sophisticated you are, real estate remains a local business,” said Ryan Hall, Magma managing principal. “The new Dallas office under Tom’s leadership will help us to meet our goal of building a significant portfolio with several thousand units under management in the next 24 months.”

Verandas at City View is a gated 314-unit apartment and townhome community located at 7301 Oakmont Blvd. in the Fort Worth suburb of Benbrook, nine miles southeast of downtown Fort Worth. Built in 2002, the property offers a variety of one,- two- and three-bedroom floor plans housed in 15 low-rise residential buildings on a 14.7-acre site.

Built in 1974, the 248-unit Vista Azul is located at 2911 Clydedale Dr., 10 miles north of downtown Dallas. Encompassing an entire city block, the low-rise garden-style property consists largely of one- and two-bedroom apartment homes.

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Ryan Hall

About Lisa Brown

Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM. In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.

  • ◦Sale/Acquisition