DALLAS — A partnership between Waterford Property Co., The Vistria Group and the City of Dallas Housing Finance Corp. has acquired Axis Kessler Park, 299-unit apartment community in West Dallas. The sales price was $67 million. The new ownership plans to convert the property to workforce housing, with rents for all but 10 percent of the residences to be restricted to households earning between 60 and 140 percent of the area median income. Units come in one-, two- and three-bedroom floor plans, and amenities include a pool, clubhouse, fitness center, business center and a dog park. John Makus of CBRE represented the undisclosed seller in the transaction. Walker & Dunlop originated an undisclosed amount of Freddie Mac acquisition financing for the deal.
Axis Kessler Park in Dallas primarily houses middle-income workers within the Dallas Independent School District. Other renters hold jobs in fields such as healthcare, education training and management.
Partnership Acquires 299-Unit Apartment Community in West Dallas
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