Comunidad Partners Acquires 437-Unit Multifamily Complex in Dallas

Comunidad Partners, a real estate investment firm that specializes in workforce / affordable housing communities in culturally diverse neighborhoods, has acquired Villas del Zocalo 4, a 437-unit affordable housing community in Dallas, TX. This acquisition is Comunidad’s eleventh asset in the Dallas-Fort Worth market. The transaction amount was not disclosed.

“The Dallas-Fort Worth market is closely aligned with our investment strategy, having undergone tremendous growth over the last several years,” says Antonio Marquez, managing partner at Comunidad Partners. “In fact, over the last four years, Dallas-Fort Worth has added more than 100,000 rentals, exceeding New York City, the second-highest-ranking market during that time period, by 24,000 units.”

The Dallas-Fort Worth market will soon lead the nation in in-migration, as it is expected to surpass 70,000 new residents this year. According to a recent report, as a result of people relocating to this metro area, apartment absorption will exceed deliveries in 2022, producing downward vacancy pressure and sustaining rent growth.

Source: Connect CRE Texas: