September 29th, 2015
Paladin Preferred Capital’s $6.2 Million Deal
Paladin Preferred Capital, an affiliate of BRC Advisors, announced its forth acquisition in Dallas-Villa France, a 134-unit apartment complex in Irving Texas for $6.2 million.
The community is located between Dallas and Fort Worth. The rent is affordable and offers units with large one, two and three bedroom floorplans. The amenities include a playground, swimming pool and community barbecues. Although the 35 percent of the property has been upgraded, the sponsor plans to renovate on 87 more units.
Ken Chong, Director of Capital Markets for Paladin, mentions the advantage of the location stating, “In addition to the 2,000 companies located in Las Colinas, many of which are Fortune 500 headquarters and regional offices, Villa France is within a five-mile radius of numerous centers of employment that include the Irving Mall, Baylor Medical Center – Irving, DFW International Airport and the Irving Convention Center.”
Paladin President George Lintz added, “This investment adds to our portfolio of stable, cash-flowing properties, well located in solid working class neighborhoods. Villa France Apartments is well suited to our overall strategy of purchasing properties in strong economic settings with below market rents and upside potential without requiring major repositioning or capital expenditures.”
Paladin is a subsidiary of Los Angeles based BRC Advisors, Inc., a very well-known real estate company with over a hundred commercial agents and property management and leasing divisions.