Overhaul in sight for White Rock Lake area multifamily complex

Two investment firms, Presidium Group and Second City Real Estate, have formed a joint venture to buy Easton Hills apartment complex near White Rock Lake and rebrand it as The Grove at White Rock Lake.

Presidium Group, a vertically integrated diversified real estate investment and management firm, and Second City Real Estate, a multi-fund private equity firm, will soon launch an extensive renovation on the 282-unit complex.

The $1.7 million capital renovations will include both interior and exterior upgrades, including new flooring, hardware, plumbing, lighting fixtures and appliances, as well as improvements on landscaping, property amenities and leasing office. The renovations will also include the addition of a fitness center.

The apartment complex is just minutes away from White Rock Lake and is surrounded by a growing restaurant and retail shopping scene.

The purchase of the Easton Hills apartment complex is the sixth joint venture between Second City Real Estate and Presidium Group, although it is their first joint acquisition in Dallas.