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62 Units Bring About $1.5M

DALLAS-A private investor from Pennsylvania signs the final papers to take over the 99%-occupied Bonnie View Apartments in South Dallas in a 45-day, start-to-finish transaction. The asset has a cap rate of 13.54%.

By Connie Gore | Updated on December 02, 2002

DALLAS-A Pennsylvania investor has spent about $1.5 million for the 62-unit Bonnie View Apartments in South Dallas in a 45-day, start-to-finish transaction. The cap rate is 13.54%.

Marilyn Hurst of the Atlantic Exchange Co. of Bryn Mawr paid 97% of the list price to the seller, Shelter Technologies International of Plano. John Barker of Marcus & Millichap’s Dallas office handled both sides of the deal for the 3823 Bonnie View Rd. property. He tells GlobeSt.com that the 99%-occupied complex attracted about a dozen offers in the 21 days it was on the market before going under contract to the private investor.

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