{"id":1004116000,"date":"2015-03-23T06:35:39","date_gmt":"2015-03-23T14:35:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004116000"},"modified":"2022-12-05T06:23:11","modified_gmt":"2022-12-05T14:23:11","slug":"hayman-grabs-apartment-community-in-texas","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hayman-grabs-apartment-community-in-texas\/","title":{"rendered":"Hayman Grabs Apartment Community in DFW"},"content":{"rendered":"<p><i>By Barbra Murray, Contributing Editor<\/i>\u00a0<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Arioso.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004116001\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hayman-grabs-apartment-community-in-texas\/arioso\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Arioso.jpg\" data-orig-size=\"448,322\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"Arioso\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Arioso.jpg?w=448\" class=\"alignright size-medium wp-image-1004116001\" alt=\"Arioso\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Arioso.jpg\" width=\"300\" height=\"215\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Arioso.jpg 448w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/03\/Arioso.jpg?resize=300,216 300w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>The Hayman Co. has added Arioso, a 288-unit apartment property in Grand Prairie, Tex., to its three-state multi-family portfolio. The company recently acquired the 288-unit Dallas-area property from JPI.<\/p>\n<p>Institutional Property Advisors marketed the property on behalf of the seller.\u00a0Hayman was just one of a slew of investors that were eager to snap up Arioso.<\/p>\n<p>\u201cBuyer interest for this property was strong due to the high quality of the asset and excellent visibility of the location,\u201d Drew Kile, director with IPA, told <i>Commercial Property Executive<\/i>. \u201cThe property also offered the opportunity for light interior upgrades in the near term, which will enhance rental increases for the new owner.\u201d<\/p>\n<p>Developed in 2007 by SNK Realty Group, Arioso occupies 13.5 acres at 3030 Claremont Dr. in the Dallas\/Fort Worth Metroplex, where it\u2019s a good time to be an apartment owner. Job creation, net migration and household formation are driving renter demand in the area, and not even an onslaught of new product scheduled to hit the market this year will upset the area\u2019s historically low vacancy levels, according to a report by real estate investment services firm Marcus &amp; Millichap Inc., parent company of IPA.<\/p>\n<p>All parties involved in the Arioso transaction are keeping the sales price close to the vest, but it was most likely quite competitive. According to statistics from the Marcus &amp; Millichap report, average sales prices in the Metroplex have been on a consistent upswing over the last few years, climbing from the $50,000 per unit range in 2010 to approximately $80,000 per unit in 2014.\u00a0The market is like catnip to investors&#8211;increasing dollar signs or no.<b>\u00a0<\/b><\/p>\n<p>\u201cDemand continues to be strong for multi-family properties here in the Metroplex, and while cap-rate compression has slowed, pricing continues to march upward due to strong property performance across nearly all sectors,\u201d Kile said. \u201c2014 saw a 13-year record for occupancy and a 20 year record for rent growth.\u00a0 Both of these metrics will help keep DFW high on investors\u2019 wish lists in 2015.\u201d<\/p>\n<p>The sentiment is reiterated in the Marcus &amp; Millichap report, which notes,\u00a0\u201cInvestors are optimistic about the Metroplex, and strong economic growth, favorable demographics and advancing property operations will lead to an increased buyer pool this year.\u201d<\/p>\n<p>Investment sales activity in the Metroplex in 2015 so far include Bascom and Oaktree Capital Management L.P.\u2019s purchase of the 480-unit Timber Links in Denton, and Monticello Asset Management\u2019s acquisition of the <a href=\"https:\/\/www.commercialsearch.com\/news\/property-types\/multi-family\/monticello-helps-north-dallas-m-f-market-thrive\/1004110414.html\"><span style=\"text-decoration: underline\">148-unit Willoughby Park Apartments<\/span><\/a> in North Dallas.<b>\u00a0<\/b><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Hayman Co. is joining the Dallas-Fort Worth investment frenzy with a new acquisition.<\/p>\n","protected":false},"author":969,"featured_media":1004116001,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21783,21742],"tags":[],"class_list":["post-1004116000","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-investment","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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