December 8, 2016
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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