180 Multifamily Properties Acquires 544-Unit Portfolio in East Dallas
DALLAS — Locally based investment firm 180 Multifamily Properties has acquired The Powers Properties Portfolio, a collection of 20 assets totaling 544 units that are located in historic neighborhoods in East Dallas. The properties, which were built between 1914 and 1962 and renovated in the late 1990s/early 2000s, were under the same ownership for 25 years, but the portfolio was put into a court-appointed receivership two years ago. Todd Franks, Ryan Quaid, Buck Poderski and Byron Griffith of GREA brokered the deal on behalf of the court-appointed receiver. The new ownership plans to implement a value-add program.