Back-to-Back Buys Bag 401 Units

[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.