April 28, 2016
Presidium Group LLC has acquired the 516-unit Villas on Forest Springs apartment complex in Dallas in an off-market transaction. The Texas-based buyer paid a reported $34.7 million for the property at 9450 Forest Springs Dr. The seller was DFS Villas at Castle Hills, located in Frisco, TX.
The apartment complex is in the northwestern sector of the Dallas metro, and was built in the 1970s. One reason for the property’s appeal was its location, as it’s close to Texas Instruments’ corporate headquarters. The deal is Presidium’s second in the submarket; it acquired Thread Apartments at 13606 Maham Rd. in 2014.