PLANO, TX-BES Acquisitions LLC has expanded its Dallas-Fort Worth portfolio by purchasing Tribeca Apartments, a 398-unit property. The class A asset was acquired for an undisclosed amount from developer, Dallas-based Zale Corson Group.

BES Acquisitions was one of 10 companies interested in acquiring the property, which is located at the southwest corner of Ohio Drive and McDermott Road. “There was a lot of interest in the property, and I think that was because of the lack of inventory and all the funds available on the sidelines,” says Charlie Corson, principal of Zale Corson Group.

The developer tapped Charles Cirar and Mark Stymiest of CBRE to market the property, which was listed without an asking price. Local experts say class A properties are trading at $115,000 to $130,000 per unit. Using those metrics, Tribeca Apartments sold for $45 million to $52 million.