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.

 

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."

The Dylan was initially acquired by SPI Advisory and its 1031 Exchange partners in August 2020. 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.

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About SPI Advisory, LLC

SPI Advisory is a Texas-based multifamily private equity firm founded in 2014 & headquartered in Dallas, TX with a second office in Austin, TX. SPI transforms the way high-net-worth investors from across the country identify, assess, secure, & sell high-yield, tax-efficient multifamily real estate investments across the Texas region by offering tailored joint venture partnership & advisory services as well as democratized passive investing opportunities in institutional-quality multifamily assets to their increasingly diverse client base. Read more here.

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