ARA BROKERS SALE OF 168-UNIT MULTIFAMILY PROPERTY IN DFW METROPLEX

BEDFORD, TEXAS — ARA has brokered the sale of Cottages at Bedford, a 168-unit multifamily property in the Dallas/Fort worth suburb of Bedford. Completed in 1983 and renovated in 2007, the Class B complex includes one- and two-bedroom apartments, as well as a swimming pool with lounging deck, clubhouse, business center and barbecue and picnic areas. The community, which was 94.6 percent occupied at the time of the sale, is located at 2000 Park Place Blvd., in proximity to I-360, State Highway 183, Loop 820, DFW International Airport and local employers such as Bell Helicopter and Texas Health Harris Methodist Hospital. Brian O’Boyle Sr., Brian O’Boyle Jr., Brian Murphy and Jakob Andersen of ARA marketed the asset on behalf of the seller, Australian fund manager Equiti Capital Limited. Locally based Busboom Group was the buyer. Cottages at Bedford is the company’s second Dallas-area multifamily acquisition in the past six months.