Odyssey Properties Picks Up Three North Texas Apartment Assets

Odyssey Properties Group, a California-based investor, has purchased three North Texas apartment communities with 578 units. The properties are in Arlington and Grand Prairie.

“Our team saw an opportunity to expand our footprint in Texas, where we already had nine multifamily properties in key markets,” said Odyssey’s Derek Graham. “The Dallas area is particularly compelling because of its strong job growth, fast-growing economy and low cost of doing business compared to other metropolises — a continuing advantage for investors in the area.”

Odyssey Properties purchased the 250-unit Huntington Meadows on Stratton Lane and the 68-unit The Dalton on Big Sur Drive in Arlington. Both communities were created in 1984.

In Grand Prairie, Odyssey Properties Group purchased The Belmont, a 260-unit apartment community on Tarrant Road that was built in 1983. The new owners are planning to upgrade the rental communities.