CASE STUDY DALLAS-FT WORTH, TX MSA • OVER 110,000 SF • PRICE: $6,100,000 BUYER PROFILE SELLER PROFILE PROPERTY PROFILE Private local operator preparing for retirement Private national operator Single story, non-climate built in 1985. THE STORY • Number of bids: 10 • Certainty of close was more important to the sellers than getting the absolute highest price. • Classic value-add story: current occupancy & rates well below average for the submarket. • 227 down units - CapEx required to have units in rent ready condition. • Very strong interest came from private equity backed groups and private operators. • During Call for Offers process, the eventual buyer was aggressively trying to differentiate their offer from the other offers. • The buyer ultimately won the bidding process by puttin

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