DALLAS–Florida-based The Kislak Organization has purchased the Fairways Apartments. The 348-unit multifamily garden-style apartment community is located in Grand Prairie. The sale price was undisclosed.
“Dallas/Fort Worth has a strong economy and the anticipated population and employment growth is expected to generate long-term high demand for apartments,” says Thomas Bartelmo, president and CEO of Kislak.
The Fairways includes one- and two-bedroom units with amenities like wood-burning fireplaces, walk-in closets and private patios/balconies. Common amenities for the residents include two resort-style pools, a fitness center, BBQ area, golf course views and a controlled-access gate.
Kislak plans to upgrade the clubhouse and recreational facilities. With this purchase, Kislak now owns more than 2,000 units across the country. This is the company's second purchase in Texas.
“We purchased Arbors of Las Colinas in Irving, Texas, in 2005, and based on our success there, our acquisitions team has been working to expand our presence in the market. The Fairways is a perfect fit for our strategy of repositioning and enhancing properties, and a terrific addition to the Kislak portfolio,” Bartelmo says.
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