ARLINGTON, TX—When examining rent and job losses during COVID, investors are taking a good hard look at the outperforming DFW market, with losses less severe than the nation's decline. To that end, a private multifamily owner-operator CONTI Organization has expanded its footprint in the state with the acquisition of Vine Apartments, a 420-unit complex located at 711 Trinity Circle. The property is centrally located between Dallas and Fort Worth.
This is CONTI's 43rd acquisition in Texas, increasing the company's current Texas portfolio to 31 properties and more than 9,000 units. The price was undisclosed.
"Vine is another strategic addition to our portfolio and is within a short drive of major employers including American Airlines, Amazon, General Motors, GM Financial, Bell Textron and others. With unique access to both Dallas and Fort Worth, Vine offers a convenient option to renters who need workforce housing close to employment," said Stewart Hsu, co-founder and president, CONTI Organization.
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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.
