NorthMarq's Dallas multifamily investment sales group is marketing the 1,260-unit Vineyards at the Ranch multifamily portfolio. Located in the highly desirable North Dallas submarket bordering I-635 and I-75 interchanges, the two-property adjacent class B portfolio is being offered free and clear.
All 1,260 units have upgrade potential, giving the new owner the option to implement an interior unit enhancement program. In addition, the properties have significant value-added opportunities in the common areas and exteriors.
The portfolio is located in a top-performing submarket with average annual rent growth over the past five years of 5.7 percent and is in an award-winning school district. The surrounding area has experienced population growth of 15 percent within a one-mile radius since 2010.
According to the listing team, the location and the value-added story will be attractive to many investors. “The Vineyards at the Ranch portfolio provides an exceptional opportunity for a new group to instantly gain economies of scale in DFW or to expand an existing portfolio in the area. The Vineyards offering has a unique value-add story with multiple avenues, on a scale that is rarely seen,” said Philip Wiegand, senior vice president – investment sales, Dallas, at Northmarq.
