RealtyMogul Closes $5.6 Million Equity Investment in Serendipity Apartments
Property Acquired for $19.5 Million Through Partnership with Presidium Group
RealtyMogul , a unique commercial real estate private markets investing platform, announced today that it has completed an investment in a $5.6 million multifamily apartment complex in Dallas, Texas.
Serendipity Apartments is situated in close proximity to retail amenities, public transportation and public facilities. It is comprised of studio, one, and two-bedroom floor plans across 343 units and eight buildings totaling 209,380 rentable square feet. Amenities include a business center, fitness center, sauna, two pools, laundry facilities, picnic areas, and a clubhouse.
The property was acquired through a partnership with Presidium Group, a vertically-integrated real estate firm specializing in opportunistic and value-add transactions in Texas. Presidium reports to have owned and managed over $1 billion in real estate overall, including 10,000 multifamily units, of which 4,000 are located in Dallas-Fort Worth.
“We are excited to have closed this Serendipity Apartments deal with Presidium, who has an extensive track record and great local knowledge,” said Jilliene Helman, CEO & Co-Founder of RealtyMogul. “Reports suggest Americans of all ages are placing a higher priority on urban living, and we are pleased to offer an investment opportunity in Dallas, Texas.”
The deal highlights RealtyMogul’s ability to offer investment opportunities in major markets. According to CoStar, the Dallas-Fort Worth (DFW) apartment market has outperformed over the last few years due to exceptional demand driven by some of the best in-migration and employment growth in the country. Job growth in the market continues to outpace the U.S. average by more than 50%, and the metro continues to set records for in-migration.
Month after month, Dallas and Fort Worth are ranked among the highest-growth metros in the country, adding more than 100,000 jobs over the past year combined. And with major corporate relocations or expansions being announced with regularity, the jobs are expected to keep coming.
RealtyMogul is a unique commercial real estate private markets investing platform that provides discerning investors exclusive access to thoroughly vetted opportunities, rigorous underwriting, and high-touch customer service through licensed investment professionals. We strive to build wealth through sound principles and data insights, serving real people who want a smart alternative investing strategy.
We offer capital financing opportunities to qualified real estate companies, and through our rigorous vetting we’re able to hand-select opportunities for our discerning investors.