RockFarmer Properties, a privately owned, fully integrated vertical development and investment firm based in New York City, has purchased of two adjacent gated garden-style multifamily rental communities in Dallas — 98Fifty and Apex — for an undisclosed price.
Dallas-based NorthMarq represented the buyer and the seller in the off-market transaction. The firm also helped secure financing for the acquisition on RockFarmer’s behalf.
The off-market transaction marks RockFarmer Properties’ first foray into the Dallas–Fort Worth multifamily market — and the marks the first purchase made by RockFarmer’s recently launched Opportunity Fund V. The company plans additional acquisitions of value-add commercial and multifamily assets across the Sun Belt states in the near term — including the Dallas-Fort Worth, Austin and San Antonio markets in Texas. RockFarmer is expected to announce additional Texas-based acquisitions in the coming weeks.
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