Argosy Real Estate Partners has acquired The District at Highland Village, a class A mixed-use property containing 161 luxury apartment units and 75,565 square feet of commercial space located within Highland Village, Texas, a high-barrier-to-entry, affluent infill suburb of Dallas.
The property was built in phases from 2010 through 2018 by the seller, a local development and construction company that has self-managed the property since completion.
The business plan consists of rebranding the community, completing a light renovation scope, leasing up the property’s considerable vacancy, and separating the multifamily and commercial components to maximize exit pricing. The investment presents the opportunity to acquire what the buyer believes to be a trophy-quality property at a discount to replacement cost within a desirable submarket in the growing Dallas–Fort Worth metro area.
The property was acquired as part of a joint venture with Boulder Peak Capital,
