Westmount Realty Sells Dallas Apartment Development
The 357-unit Highland Bluffs multifamily community was built in 1984, but owners have kept up by performing a comprehensive renovation which included wood siding, balconies, common areas, pool and outdoor furniture. It’s located just north of Interstate 30 along Buckner Boulevard.
In spite of the complexes age, Westmount’s Cliff Booth says the renovations have paid off, “The property is in excellent condition. Recently upgraded multifamily properties in the area and increased rents demonstrate the significant value-add opportunity.” Recent surveys indicate rents are up 13% year-to-date in the region and 97% of DFW rental communities are full.
The company has owned the property for six years. Al Silva from Marcus & Millichap represented the seller in the sale. The buyer was not disclosed.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.