ADDISON, TX-A joint venture comprised of Crossbeam Capital LLC and Concierge Asset Management has entered the Dallas-Fort Worth market with the acquisition of three adjacent apartment communities totaling 628 units.

The JV bought the class B assets from Hall Financial Group for an undisclosed amount through the Crossbeam Capital-managed Workforce Housing Fund I -2007. The properties – Bent Tree Oaks, Bent Tree Brook and Bent Tree Fountains – consist of 83 two-story buildings on 38 acres.

“We’ve had our eye on these properties for more than a year,” says Brad Blash, chief acquisitions officer for Crossbeam Capital. He tells GlobeSt.com that Crossbeam bid on the properties when Hall Financial first placed them on the market, but was outbid by other buyers. In fact, the portfolio was put under contract several times but never closed.