{"id":1004110414,"date":"2015-01-05T10:20:05","date_gmt":"2015-01-05T18:20:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004110414"},"modified":"2022-12-05T01:29:00","modified_gmt":"2022-12-05T09:29:00","slug":"monticello-helps-north-dallas-m-f-market-thrive","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/monticello-helps-north-dallas-m-f-market-thrive\/","title":{"rendered":"Monticello Keeps North Dallas’ M-F Market Thriving with New Buy"},"content":{"rendered":"

By Scott Baltic, Contributing Editor\u00a0\"WILLOUGHBY\"<\/a><\/em><\/p>\n

Monticello Asset Management, of Dallas, has bought the 148-unit Willoughby Park Apartments in North Dallas, it was announced Friday by the Henry S. Miller Co., which brokered the sale.
\nThe seller was Willoughby 8328 L.L.C., and the buyer \u201cplans to make many upgrades to the property,\u201d according to the announcement. The property is on an 8.5-acre site at 8328 Willoughby Blvd.<\/p>\n

The price was not disclosed, and as of press time, neither Monticello nor Miller had replied to Commercial Property Executive\u2019s requests for additional information.<\/p>\n

Jonathan Krebbs and Lane Kommer of Miller\u2019s Investments\/Land Division brokered the transaction.
\nHenry S. Miller Co. has been busy of late. Also on Friday, the company announced a sale to Whitestone REIT, Houston, of Williams Trace Shopping Center, a 262,000-square-foot grocery-anchored cente<\/a>r, in Sugar Land, a Houston suburb. That transaction was brokered by HFF.<\/p>\n

Apartment vacancies in North Dallas average 5.0 percent, an increase of 60 basis points year over year, while the average effective rent is $869, up 4.6 percent year over year, according to a fourth-quarter report from Marcus & Millichap.<\/p>\n

Multi-family sales velocity in the Metroplex rose nearly 15 percent versus the previous 12 months, with a per-unit price increase of about 4 percent and modest cap rate compression, to an average 7.1 percent, according to M&M.<\/p>\n","protected":false},"excerpt":{"rendered":"

Monticello Asset Management has contributed to North Dallas’s growing multi-family market with the purchase of the 148-unit Willoughby Park Apartments.<\/p>\n","protected":false},"author":952,"featured_media":1004110417,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21742],"tags":[],"class_list":["post-1004110414","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-latest"],"acf":[],"yoast_head":"\nMonticello Keeps North Dallas' M-F Market Thriving with New Buy - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/monticello-helps-north-dallas-m-f-market-thrive\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Monticello Keeps North Dallas' M-F Market Thriving with New Buy\" \/>\n<meta property=\"og:description\" content=\"Monticello Asset Management has contributed to North Dallas's growing multi-family market with the purchase of the 148-unit Willoughby Park Apartments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/monticello-helps-north-dallas-m-f-market-thrive\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-01-05T18:20:05+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-05T09:29:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/WILLOUGHBY.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"5184\" \/>\n\t<meta property=\"og:image:height\" content=\"3456\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anna Spiewak\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/\"},\"author\":{\"name\":\"Anna Spiewak\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/1bbb99675c2609ea2e6792f8b25d7b76\"},\"headline\":\"Monticello Keeps North Dallas’ M-F Market Thriving with New Buy\",\"datePublished\":\"2015-01-05T18:20:05+00:00\",\"dateModified\":\"2022-12-05T09:29:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/\"},\"wordCount\":227,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/01\\\/WILLOUGHBY.jpg\",\"articleSection\":[\"Investment\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/monticello-helps-north-dallas-m-f-market-thrive\\\/\",\"name\":\"Monticello Keeps North Dallas' M-F Market Thriving with New Buy - 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