586-Unit Apartment Portfolio Trades in Dallas Suburb
Exponential Property Group offloaded two Haltom City apartment complexes. Mox Living was the buyer. The 586-unit value-add multifamily portfolio comprises Hidden Lakes and The Ranch at Fossil Creek.
Newmark Multifamily Capital Markets, Richard Furr, Brian O’Boyle, Jr. and Brian Murphy represented the seller. Braden Harmon, Hank Glasgow and Jeff Fein of Newmark’s Debt & Structured Finance group secured acquisition financing for the buyer.
Located at 5333 and 5350 Fossil Creek Boulevard, the 312-unit Hidden Lakes and 274-unit The Ranch at Fossil Creek offer a mix of one-, two- and three-bedroom floorplans. Residents enjoy a comprehensive amenity offering across the portfolio, including swimming pools, fitness centers, clubhouses, business and co-working spaces, sports courts and outdoor recreation areas.
According to Newmark Research, the U.S. multifamily sector continues to benefit from renting remaining more cost-effective than homeownership, supporting renter demand even as leasing activity normalizes. Fundamentals remain strongest across high-growth Sunbelt markets such as
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout