SAN FRANCISCO, CA (February 2018) — Polaris Real Estate Partners (PREP), a principal investor and manager of multifamily properties, has purchased a 120 unit apartment project in Dallas, Texas. The acquisition is Polaris’ sixth multifamily investment within the past 12 months.
“Quail Hollow is located near two of the strongest US industrial markets,” noted Travis Pacoe, general partner of Polaris Real Estate Partners. “There are 78K jobs within five miles. This growing and wellpaid job base will provide a strong tenancy for years to come.” Ron Abta and Travis Pacoe, through Polaris and other entities, now manage a total of 1,610 units throughout the Dallas/ Ft. Worth metro and are actively pursuing other regional opportunities.
Quail Hollow is located in Mesquite, a suburb in east Dallas, on highly trafficked Scyene Road. It is within two miles of several major, expanding industrial parks and Union Pacific Railroad’s intermodal facility, one of the largest in the country. The east Dallas industrial market is currently at 98% occupancy. Within three miles is the edge of the Mesquite/ 635 retail corridor, including millions of square feet of space occupied by a who’s who of major US retailers and restaurant chains. Quail Hollow is also about 10 minutes north of the burgeoning I-20 industrial expansion, part of the 4th largest concentration of industrial space in the US.
Polaris Real Estate Partners specializes in multifamily investment in the mid-western and central United States, with its principals holding decades of direct real estate investment experience. Its principals currently have approximately 2,700 units currently under management. Over the past 20 years Polaris principals have acquired multifamily properties, warehouses, manufacturing facilities and retail properties as well as improved and unimproved land. Polaris Real Estate Partners is currently seeking projects 100 to 500 units in size in its targeted areas.