Real estate investment platform CrowdStreet announced an offering for Elmsgate at Cliffside, a Class A multifamily community in Arlington, Texas.
The property’s average rental rate is $1,329, and the project's sponsor intends to bring rents up to market rates through significant value-added upgrades. The property, centrally located in the Dallas-Fort Worth metropolitan area, is being acquired and renovated at an advantageous cost basis, allowing the facility to be brought up to a top-tier standard.
The demand for multifamily housing in the area has grown significantly in recent years. According to CoStar Group, the Arlington submarket is expected to see a 6% population increase while the Dallas-Fort Worth submarket is expected to see an 11% increase over the next five years.
A major economic ...
Full story available on Benzinga.com
Continue reading...
The property’s average rental rate is $1,329, and the project's sponsor intends to bring rents up to market rates through significant value-added upgrades. The property, centrally located in the Dallas-Fort Worth metropolitan area, is being acquired and renovated at an advantageous cost basis, allowing the facility to be brought up to a top-tier standard.
The demand for multifamily housing in the area has grown significantly in recent years. According to CoStar Group, the Arlington submarket is expected to see a 6% population increase while the Dallas-Fort Worth submarket is expected to see an 11% increase over the next five years.
A major economic ...
Full story available on Benzinga.com
Continue reading...