DALLAS, TX - Atlanta-headquartered ARA, the largest privately held, full-service investment advisory brokerage firm in the nation focusing on the multihousing industry, is pleased to announce the sale of Triden Village, a 1,032-unit multi-family property located in Dallas. ARA Principal Brian O’Boyle led the exclusive listing marketing effort on this assignment. The property traded at an undisclosed price and ARA Finance provided the financing.
Developed and built in four phases in the mid-1980s, Triden Village is a solid Class ‘B’ community with significant value-add potential. At time of sale, the asset was about 95% occupied. The property enjoys a great location with easy access to major thoroughfares such as the President George Bush Turnpike (Highway 190), the Dallas North Tollway, Interstate 635, and Interstate 35E. Additionally, more than 81,000 people are employed within a three-mile radius of the site. Investors were drawn to the property because of the lack of new product in this submarket and the fact that there is a consistent demand for rental housing in this area.
“This is one of the largest single projects in all of D/FW with 1,032 units in four continuous phases,” said O’Boyle. “Buyers were lured by the tremendous upside potential after capital infusion, and the marketing of this asset generated significant interest with 54 property tours. Triden Village proved to be among our most sought-after offerings within the last 18 months.”
To schedule an interview with an ARA executive regarding this transaction or for more information about ARA, nationally please contact Lisa Robinson at lrobinson@ARAusa.com, 678.553.9360 or Amy Morris at amorris@ARAusa.com, 678.553.9366; locally, Brian O’Boyle at oboyle@ARAusa.com or Robyn Randall at rrandall@arausa.com, 972.934.3400.
About ARA
Atlanta-headquartered ARA is the largest privately held, full-service investment advisory firm in the nation that focuses exclusively on the brokerage, financing and capital sourcing of multihousing properties including conventional, affordable, distressed assets, notes sales, seniors, student & manufactured housing and multihousing land. ARA is comprised of the country’s top investment professionals who leverage a unique and fully integrated cooperative business platform of shared information, relationships and technology driven solutions. ARA’s unified enterprise approach ensures that clients are delivered the broadest asset exposure, effective matching of buyers and sellers, and the shortest transaction timeframes in the industry. The combination of resources, unparalleled market expertise and nationwide presence in the multihousing marketplace has resulted in average annual production volume of $5.4 billion in real estate transactions since 2004. For detailed information on ARA’s extensive multihousing investment services, visit www.arausa.com