RockFarmer Makes First Foray Into DFW

RockFarmer Properties recently acquired two adjacent gated garden-style multifamily rental communities, 98Fifty and Apex in Dallas, for an undisclosed price. The off-market transaction marks RockFarmer Properties’ first foray into the Dallas-Fort Worth multifamily market and is the first purchase made by RockFarmer’s recently launched Opportunity Fund V. 

The company plans additional acquisitions of value-add commercial and multifamily assets across the Sun Belt states in the near term including the Dallas-Fort Worth, Austin and San Antonio markets. 

“We are extremely bullish on value-add properties located in stable communities and districts experiencing continued growth. 98Fifty and Apex are two well-located rental communities with a lot of upside potential,” said John Petras, principal of RockFarmer Properties. “We are looking to be an extremely active investor throughout 2021.”

RockFarmer Properties plans to add significant value to 98Fifty and Apex through timely unit renovations while enhancing amenities and common areas at each property. 

Dallas-based NorthMarq represented the buyer and the seller in the off-market transaction. The firm also helped secure financing for the acquisition on RockFarmer’s behalf.