The newest deeds to roll into the portfolio are the 216-unit Villa Jolla at 11321 Woodmeadow Pkwy. in northeast Dallas and 185-unit La Joya Apartments at 1707 New York Ave. in Arlington. The Dallas property was bought off market for $3.2 million, with the other one making its rounds as a $3.3-million listing by a Hendricks & Partners team.

Carlos Vaz, president of the Conti Group, says the double play also drove the need to seat a property manager for the steadily growing portfolio, which has been built with value-add pickups in Fort Worth's Woodhaven section, where he's amassed 600 units in three side-by-side complexes. Newly hired is Amy Gonzalez as Conti Management's regional manager.

Vaz tells GlobeSt.com that the all-cash offer convinced a local partnership to sell Villa Jolla, a 67%-leased asset now in line for a $500,000 renovation. The 19-building class B complex, situated on 11 acres, is heavily weighted with two-bedroom apartments with one- and three-bedroom floors plans tossed into the mix. Units average 1,000 sf. The average rent is $650 per month or 65 cents per sf. Vaz has his eyes on 73 cents per month, post renovation.