The buildings on McKinney and Lemmon avenues are the latest to sell.
Two Uptown Dallas apartment communities have new owners.
The McKinney Uptown Apartments at 3324 McKinney Ave. just sold to one of the country’s top apartment owners, Alliance Residential. Built in 2002, the nine-story rental community is near the Cityplace development.
A Florida investor sold the property to Arizona-based Alliance Residential, county records show.
Alliance Residential owns and has developed multiple North Texas rental communities.
Just a few blocks away on Lemmon Avenue, the L2 Uptown apartments have been purchased by a company affiliated with Minnesota-based Bader Development.
Built in 2013, the 321-unit L2 Uptown apartments are at Lemmon and Oak Grove Avenue The five-story apartment block has been owned by a unit of Ohio-based Connor Group.
A Bader investment fund already owns Dallas-area apartments, including properties in Addison and Carrollton.
Uptown Dallas has been one of the area’s hottest apartment investment markets, with multiple buildings changing hands in the past year.
D-FW was the country’s top apartment investment market in 2021, with almost $28 billion in sales.
Less than 3% of North Texas’ apartments are vacant. Landlords have raised rents an average of about 18% this year.