Dakota Place Apartments
April 11, 2013
Class B Multifamily Acquisition
Dakota Place is an existing, 77 unit, garden style development in Hurst, Texas. Hurst is part of the Dallas-Fort Worth Metroplex (DFW). DFW has seen recent job growth, and lower than average unemployment, along with lower costs of living.
This project has an existing audited track record, with significant upside to capture. These factors, along with current economic conditions, and increased difficulty in procuring mortgages, made this apartment development a strong candidate for success.
Proven Rental Sub-Market
The project is located on 2.03 acres just off of East Hurst Boulevard, between 820 & 360, close to the Bell Helicopter Facility. With a bi-directional traffic count (as of 2009) of over 27,000 vehicles per day, this is a very high-traffic location with excellent visibility from the road. Its proximity to the Bell helicopter Facility provides a convenient location for lower income employees to minimize their commute to work.