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|Building Area Net||
|Land Area Net||
|Number of units||2186|
|Call for Offers|
Jones Lang LaSalle Americas. Inc. or its state licensed affiliate has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in the Bellmar Portfolio (the “Portfolio” or “Properties”). Consisting of eight assets with an average vintage of 1977, the Portfolio totals 2,186 units in one of the most visible sites in the city. Positioned along US-75 with more than 200,000 cars passing daily, this ideal location places residents near some of Dallas’ top economic drivers including Texas Health Presbyterian Hospital, Medical City Dallas Hospital, the Telecom Corridor, and the LBJ Business District. This unique Portfolio represents a significant opportunity to obtain scale below replacement cost. At the property level, the Portfolio offers new investors well maintained assets by long term ownership with the ability to continue or expand on an interior renovation program.
Rare Ability to Obtain Critical Mass in Infill Dallas – The Bellmar Portfolio represents the opportunity to acquire eight Class B assets totaling 2,186 units. The Portfolio is positioned in a highly desirable location with access to the strongest economic drivers in Dallas. Additionally, investors will be able to achieve maximum operational efficiencies and immediate scale as all eight assets are all positioned adjacent to each other.
Significant Value-Add Potential with Ability to Push Rents – Currently there are 1,312 “Classic”, “Partial”, and “Full Upgrade” units. By continuing or expanding on the interior renovation program that is in place, new ownership has the ability to achieve healthy rental premiums by upgrading the remaining 60% of the units to the “Quartz” upgrade. Furthermore, new ownership could upgrade the “Granite” units to the “Quartz” upgrade for maximum rent growth potential.