Park NinetySix 90 Trades in Value-Add Play

R.S. Jackson Branch sold Park NinetySix 90, a 506-unit, Class B, multifamily complex on Dallas’ northeast side. The Utah seller struck a deal with Concord Capital Partners of Beverly Hills, CA to sell the asset as a value-add play. The buy brings Concord Capital’s Dallas-area multifamily portfolio to more than 2,000 units.

Park NinetySix 90 is at 9690 Forest Lane, delivered in 1971 and was 87% occupied at the time of the sale. Amenities include a resort-style swimming pool, two pet parks, a fitness center, clubhouse with resident lounge and covered parking. Chris Deuillet, Danny Baker and Chandler Sims, with CBRE represented the seller.

“There was a significant amount of offers on the property from a wide array of buyer types, both nationally and internationally. Not many properties in the area offered such an upside in occupancy, with additional units that still needed to be upgraded,” Deuillet said.

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