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GlobeSt.com UPDATE: Dallas Developer Makes Major B, C Apartment Push

HOUSTON-Trimark Realty Investments' $48.2-million refinancing is driving a buying spree that has 1,400 units in Dallas-Fort Worth under contract and offers out on seven more Houston properties. Trimark says there's enough liquidity for 2,000 to 3,000 units.

By Jennifer Brenner Andrade | Updated on March 14, 2002

HOUSTON-Trimark Realty Investments of Dallas is aggressively acquiring class B and C apartment complexes in the southwest, with a hard focus on Texas, Arizona and Tennessee. Trimark CEO and founder, William E. Baldridge, tells GlobeSt.com that he has letters of intent for 1,400 units in the Dallas-Fort Worth area and offers out on seven properties in Houston.

A recently closed $48.2-million refinancing for seven multifamily properties precipitated today’s wheeling and dealing. Susan Hill of Holliday Fenoglio Fowler LP’s Houston office says the cash drawn out of the refinancing will be applied toward the acquisition plan. Baldridge won’t say just how much cash is reserved, but did reveal there’s enough liquidity to absorb between 2,000 to 3,000 units before financing is needed.

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