DALLAS—Multifamily supply in the Dallas market is tight forcing investors to shop for under marketed and off market assets.

The Fortis Company, based in Shreveport, LA purchased the Mountain Ridge apartments in South Dallas for an undisclosed price. The 236-unit complex was presented only to well-qualified buyers and closed quickly in the active market.

"With interest rates as low as they are Dallas/Fort Worth is going to continue to see a lot of buyers, especially from California," Robert D. Aiello of Wells Asset Management tells GlobeSt.com. "We are a very stable market and lead the nation in job growth."

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