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Texas  + Dallas-Fort Worth  + Apartments  | 

Sentinel Real Estate Corp. Acquires Dallas Apartment Community

Sentinel Real Estate Corporation has acquired Third Rail Lofts, a 164-unit apartment community located in Downtown Dallas. The transaction provides the opportunity to acquire an institutional-scale asset in a high growth, urban location at a significant discount to replacement cost. Immediately upon acquisition, Sentinel is rebranding the community as Main 3 Downtown. The transaction price was not listed.

“The Downtown area has experienced tremendous growth, and the recently completed AT&T Discovery District and the repositioning of The National on Elm Street have brought renewed vibrancy and livability to the Central Business District,” said Sentinel President Michael Streicker.

New York-based Sentinel has been active in the Dallas market throughout its 53-year history, having owned and operated 23 multifamily properties and 6 commercial properties in the area. Since its inception, Sentinel has acquired a national portfolio of multifamily real estate on behalf of domestic and international institutions. The firm will continue to leverage its market expertise and deep industry relationships to identify attractive investment opportunities throughout the region.

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About Erik Hamilton

Erik Hamilton, who has more than 15 years in CRE journalism, is a former staff writer with the Los Angeles Times and the Orange County Business Journal. In addition to The Times and the OCBJ, he was also a reporter and editor for Crittenden Research, The San Bernardino Sun and UPI. A graduate of UC Irvine, with a BA in history, he is an avid record collector where he continues to search for a rare Joy Division single.

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