The Drake apartment community on Annex Avenue. Photo by Renee Umsted.
Several apartment communities in East Dallas have sold to an Arlington-based property operator, The Dallas Morning News reports.
More than 15 properties scattered along Gaston Avenue, Grigsby Avenue, Junius Street, Live Oak Street, Annex Avenue, Haskell Avenue and Swiss Avenue were purchased by 180 Multifamily Properties in a court-ordered sale.
The previous owner was Power Properties, a firm managed by brothers Craig and Braden Power, whom we wrote about years ago for their work renovating the apartments in our neighborhood.
Raleigh apartments. Photo by Renee Umsted.
Many of these properties were built in the 1950s and 1960s, and the new owners plan to upgrade the units, the Morning News reports.
According to 180 Multifamily’s website, recent acquisitions include Drake, Raleigh, Avalon, Greystone, Le Parc, Munger Place, Garden Villa, Greenhouse Villa, London, Stardust, The Villa, The Plaza, Verandah Bungalows, Verandah Flats, Paramount, Spanish Steps and Biltmore.
180 Multifamily also owns properties in San Antonio, Arlington, Bedford and Grand Prairie.
