Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of Hampton Greens, a 309-unit apartment complex in Dallas, Texas.
“Occupancy at Hampton Greens typically hovers in the mid-90 percent range and rental revenue has steadily increased over the years due to the uptick in rents in the local market and the amount of capital improvement made by the seller,” said David Fersing, first vice president of investments in Marcus & Millichap’s Dallas office. Fersing, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the seller, Oro Capital Advisors LLC, known for adding value to each property and maximizing returns to investors.
Oro Capital partnered with Unified Residential Management to manage and maintain Hampton Greens. Fersing, Fluellen and Hoover also procured the buyer, Capital Boutiq, in partnership with Trinity Investors. The partnership is committed to value-add strategic acquisitions.
Bordering the Dallas Athletic Club’s golf course, Hampton Greens is 2.5 miles from one of the area’s largest employers, 1.2-million-square-foot Town East Mall. Other large nearby employers include a UPS Customer Center, PepsiCo, Bulk Solutions and Mexico Foods. Interstate 635 is one-quarter mile away, Interstate 30 is nearby, and Eastman College is three miles from the property.
Built in 1985 on nine acres, Hampton Greens is a gated, 16-building property with two swimming pools, a spa, and two laundry facilities. Apartments have full appliance kitchens, patios or balconies and exterior storage space. Select units have wood-burning fireplaces, vaulted ceilings and golf course views.