SPI Advisory closes Sale of Oaklawn urban apartment complex
SPI Advisory closes Sale of Oaklawn urban apartment complex
PRESS RELEASE | December 21st, 2022
SPI Advisory, LLC
After just over a 2-year hold period, Dallas-based private equity firm, SPI Advisory, LLC, disposes of the Cedar Springs Rd. apartment complex, The Dylan.
THE DYLAN APARTMENTS & TOWNHOMES, “The Dylan”
On December 21st, 2022, the Dallas-based multifamily private equity firm, SPI Advisory, LLC (“SPI”) announced the sale of The Dylan Apartments & Townhomes, an upscale, urban apartment community located off of Cedar Springs Rd. in the vibrant Oaklawn neighborhood of Dallas, Texas.
Notably positioned in the heart of Dallas, adjacent to Dallas North Tollway, and just minutes from Dallas Love Field Airport, the colorful, controlled-access North Dallas property offers residents authentic metropolitan living.
Constructed in 2009, The Dylan sits on 3 acres housing seven buildings comprising 125 units with 10 to 18-foot ceilings averaging 750 to 1,650 square feet. Amenities include unobstructed Dallas skyline views, a newly renovated clubhouse & executive business center, a resort-style pool, and exceptional proximity to the metroplex’s most prominent economic drivers and employment centers.
"We successfully acquired The Dylan in the middle of the Covid-19 Lockdowns of 2020 and it was an honor to steward The Dylan through its recent physical transformation," said Michael Becker, Principal at SPI Advisory. "We wish the new owner success in their mission to transition the property from a market rate rental community to an affordable housing community for the residents of Dallas."