Texas + Apartments | December 8, 2016

Presidium Boosts Portfolio by 640 Units

Presidium Group acquired the Linda Vista Apartments and Carlton Court Apartments in Dallas, adding 640 units to its portfolio. The Dallas-based company also had bought the Thread Apartments in late 2014.

The seller listed on the 370-unit Linda Vista Apartments at 13450 Mahan Rd. was Performance Properties LLC of Dallas. Meanwhile, Post Investment Group, headquartered in West Hollywood, CA, sold the 270-unit Carlton Apartments at 13233 Mahan Rd. The sales prices were undisclosed, with the Dallas Central Appraisal District assessing both properties at a total of close to $24 million.

Thread Apartments are close by, at 13606 Mahan Rd. “Operating three sizable assets within a quarter-mile radius will allow us some economies of scale to maximize cash flows,” said Presidium co-CEO Cross Moceri. “In addition, our value-add program will ensure tenants are receiving a quality rental product.

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Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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