Multifamily Buyer Plans Value-Add and Rebrand Program
Woodside Bridle Path Apartments located at 13660 C F Hawn Fwy. in Dallas, recently sold to an undisclosed buyer. The new owner purchased the untouched value-add multifamily complex at 87 percent occupancy. This Dallas-based investment group plans to implement a large value-add program and completely rebrand the asset.
Wellington Realty’s David Shaffer, Caleb Jones, Will Miller and Troy Sanders, who are all based in the company’s Dallas office, worked on the transaction. The team generated 19 offers from qualified local and national buyers.
“This was a fun one to work on. We encountered several different obstacles during the marketing and closing process including damage to multiple units in (the) winter storm to filtering through offers and negotiating the strongest possible contract for our client. We made it happen,” said Jones.
Built in 1982, Woodside Bridle Path is located 15 minutes from downtown Dallas with visibility off U.S. 175 Highway. This submarket is a highly concentrated industrial hub supported by many employers including Dal-Tile, Stephens Transport, Walmart and Amazon.
“This asset should perform very well over the next few years. There is very little supply within 2 to 3 miles of the property and demand over the last two years has remained very consistent and strong … not to mention there are no new scheduled deliveries planned in the area for the next few years,” said Miller.