Odyssey Properties Group purchased 578 apartments in Arlington and Grand Prairie.
, has bought three North Texas apartment communities with 578 units. The properties are in Arlington and Grand Prairie.
“Our team saw the opportunity to expand our footprint in Texas, where we already owned nine multifamily properties in key markets,” Derek Graham, president and principal at Odyssey Properties Group, said in a statement. “The Dallas region is especially compelling due to its strong job growth, fast-growing economy and low cost of doing business as compared to other metros — a continued benefit for investors in the area.
Odyssey Properties purchased the 250-unit Huntington Meadows on Stratton Lane and the 68-unit The Dalton on Big Sur Drive in Arlington. The two communities were built in 1984. In Grand Prairie, Odyssey Properties Group purchased The Belmont, a 260-unit apartment community on Tarrant Road that was built in 1983.“With [PricewaterhouseCoopers] identifying Dallas-Fort Worth as the fourth best market for overall real estate prospects and the region leading all metros for multifamily investment in 2021, we are confident in our decision to acquire three of the most desirable apartment communities in the area,” Odyssey’s Daniel Diaz said in a statement.
Founded in 2004, Odyssey Properties Group is based in Hermosa Beach, Calif., and operates 44 properties with 7,217 multifamily units in 14 states.
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