Dallas-based SPI Advisory acquires 340-unit apartment complex
Dallas-based SPI Advisory acquires 340-unit apartment complex
James Bell, The Real Deal
August 3, 2022
Principal of SPI Advisory, Michael Becker with Skyline Farmers Market (Apartments, LinkedIn)
“SPI Advisory Principal Michael Becker explained in an interview that the company plans to make modest improvements to the [Skyline Farmers Market] community, namely to its gym and clubhouse areas, and that they were encouraged to purchase the property because it has a different feel than other Downtown apartment developments.
Becker said that their goal in purchasing this property is to help bring investment back into the Dallas urban core, which recently has not been growing at the same pace as the suburbs.
‘If you’re in Downtown Dallas, it’s highly amenitized. They’re trying to replicate that stuff in the suburban core that the core has,’ he said. ‘The urban core has been undersupplied for the last few years, but I think that the urban core should outperform the suburbs in Dallas-Fort Worth,’ he said.”