Source: Lion Real Estate Group
DALLAS, TX - Lion Real Estate Group, an investment firm focused on multifamily properties in the Sun Belt states, announced that it has acquired 240-unit District 2308, a Class B multifamily property located in Arlington, TX, approximately two miles north of AT&T Stadium, home of the Dallas Cowboys, and Texas Live!
Ben Kriegsman, Director of Acquisitions at Lion, said, “District 2308 is our second acquisition in our third discretionary fund and represents an incredible opportunity for us to bring our proven, value-add program to another asset in the robust Dallas-Fort Worth (DFW) Metroplex. Lion now owns 2,226 units in DFW, and we are committed to growing our portfolio across the Sun Belt and Southeast by acquiring additional communities at an attractive basis.”
To ensure that District 2308 meets Lion’s high-quality standards and is in line with the rest of its Dallas-Worth Worth portfolio, the Firm plans to renovate 100% of the unit interiors with stainless steel appliances, quartz countertops, new flooring, refreshed paint, among other premium upgrades. Focusing on a niche sector allows for bulk pricing and reduced renovation costs per unit. Lion also intends to make improvements to amenities and common areas at the property.
“Current market dynamics, our access to accretive fixed-rate financing, and our vertically integrated management platform separate Lion from many other real estate investment firms, allowing us to confidently deliver robust cash flows and risk adjusted returns to investors while providing quality housing to our communities,” added Kriegsman.
The Firm recently onboarded a President of Operations and a Vice President of Marketing who will play an integral role in the Firm’s rapidly expanding operations across the country.