DALLAS, TX - Midloch Investment Partners and its joint-venture partner WindMass Capital have acquired Riverwalk Apartments, a 176-unit multifamily community in the Richardson submarket of Dallas.
Riverwalk offers tenants spacious one and two-bedroom floorplans with in-unit laundry, carports and a comprehensive amenity set including an outdoor pool. A garden-style community located at 12920 Audelia Rd., Riverwalk is located in the Richardson Independent School District, which is highly regarded, and close to employment centers. Riverwalk was constructed in 1981.
“Demand for multifamily housing within the Richardson submarket is growing,” said Andy Sinclair, CEO and Principal of Midloch Investment Partners. “Combined with strong, stable demographics, the fundamentals are there for us to add value to the property including through capital improvements that should reduce the buildings’ carbon footprint and operating expenses.”
Midloch has acquired the property with WindMass Capital, based in Dallas, which owns over 10,000 units in the DFW metro including over 3,000 units in the Richardson submarket.
About Midloch Investment Partners: Midloch Investment Partners, with offices in Chicago, Milwaukee and Minneapolis, is a real estate investment firm and fund manager. Midloch focuses on small to middle market joint-venture equity investments, typically in properties valued between $5 million and $50 million. Midloch invests in multifamily, industrial, retail and office properties, partnering with local developers and operators using a value-add strategy. Midloch seeks individual investors, family offices, joint-venture partners and RIAs to invest alongside the company in Midloch funds or other co-investment vehicles. Investors interested in learning more should visit www.Midloch.com