The Dallas-based multifamily private equity firm, SPI Advisory, LLC 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.
Positioned in the heart of Dallas, adjacent to Dallas North Tollway, and just minutes from Dallas Love Field Airport, the 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 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 in a statement. “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.”
The Dylan was initially acquired by SPI Advisory and its 1031 Exchange partners in August 2022. Over the past few years of ownership, SPI and its partners have enjoyed supervising the completion of extensive exterior and interior design renovations & contemporary upgrades to the property’s amenities.