Rancho Mirage, a 310-unit multifamily property at 1200 Hidden Ridge, got $30.7 million in recapitalization.
IRVING, TX—According to Fannie Mae, the apartment supply in the Dallas/Fort Worth metro area should continue to thrive. As of year-end 2018, there were nearly 29,000 units in the planning stages and an additional 24,000 units underway. However, the added growth should not present much of an issue due to several demand drivers.
According to CoStar, the prime renter cohort (ages 20-34) is expected to expand by 9% through 2022. The young demographic, healthy economy and strong job growth should continue to keep demand high during that time period.
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Lisa Brown
Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.
