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Back-to-Back Buys Bag 401 Units

DALLAS-The Conti Group adds two more complexes to its steadily growing portfolio, reaching the halfway mark in four months for its goal to amass 2,000 units this year.

By Connie Gore | Updated on August 07, 2008

[IMGCAP(1)]DALLAS-In back-to-back buys, the Conti Group has grabbed 401 units in two complexes, reaching the halfway mark in four months for his 2,000-unit goal by year’s end. The latest deals draw the local buyer to new stomping grounds.

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.

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