SPI Advisory acquires 228-unit Uptown Dallas apartment community
SPI ADVISORY acquires 228-unit uptown dallas apartment community
PRESS RELEASE | June 30th, 2023
SPI Advisory, LLC
The Dallas & Austin-based multifamily private equity firm SPI Advisory and its 1031 partners just finalized the acquisition of “Ivy Urban Living” or “The Ivy,” a Class-B+, 228-unit apartment community built in 1988 & located just north of Downtown Dallas, TX, in the flourishing Uptown district.
On June 30th, 2023, SPI Advisory and its 1031 partners finalized the acquisition of “Ivy Urban Living” (“The Ivy”), a 228-unit, Class-B+ institutional-quality apartment community built in 1988 in the high-growth Dallas neighborhood district of Uptown, just two miles north from Downtown and one-mile southeast from Knox-Henderson.
Ivy Urban Living represents SPI’s 15th current property under management in the metropolitan area, totaling nearly 3,400 units. This transaction serves as the firm’s 44th acquisition in the DFW metroplex since its inception in 2014.
Bordered by three of the most highly-trafficked city thoroughfares, Haskell Avenue, Lemmon Avenue, and Peak Street, Ivy Urban Living offers its residents the unique advantage of spacious floorplans situated in close proximity to Dallas’ leading economic centers and flourishing entertainment districts at an attractive price point compared to other properties in the area.
“We are excited about the future prospects of The Ivy,” said SPI Principal Michael Becker. “It’s in a great submarket with major redevelopment projects and some of the city’s best restaurants and nightlife nearby. Ivy provides the East Dallas renter with an upgraded unit at an affordable rental rate, which is hard to come by today in in-town Dallas.”