Second Dallas Uptown luxury multifamily property added to Kislak portfolio
January 11, 2017
Miami Lakes, Florida, and Dallas, Texas – The Kislak Organization, a national real estate investment firm headquartered in Miami Lakes, Florida, has acquired Routh Street Flats, located at 3033 Routh Street in Dallas, Texas. The 208-unit midrise luxury apartment complex is in the fashionable neighborhood of Uptown, where Kislak also owns McKinney Uptown Apartments.
“We are pleased to increase Kislak’s presence in the Dallas market, where strong job and population growth continue, and rents remain on the rise,” said Tom Bartelmo, president and CEO of the Kislak Organization. “Routh Street Flats is a beautiful property in a vibrant neighborhood, making it a perfect fit for Kislak as we grow and elevate our multifamily portfolio.”Moran and Company Southwest represented sellers Alamo Manhattan. Team Mozer with George Smith Partners arranged the acquisition financing provided by Connecticut General Life Insurance Company (Cigna Realty Investors). Cottonwood Residential, Kislak’s property management partner, will be responsible for day-to-day operations.
Built in 2015, Routh Street Flats is a class A+ six-story building with 149 one-bedroom units and 29 two-bedroom units, and a gated parking garage. The unit interiors feature top-of-the market finishes, chef-inspired kitchens, granite countertops and designer fixtures, along with spacious 9-foot ceilings and 8-foot doors. The property’s upscale amenities include a rooftop terrace with city views, infinity pool, fitness center, business center, bike repair station, pet park, resident lounge, fire pits and picnic area. Uptown Dallas is a popular urban neighborhood, with high marks for walkability. A wide variety of employment centers, plus retail, restaurant, nightlife, arts and culture, and other leisure activities, are within easy walking distance, as is the M-Line Trolley.
With this acquisition, the Kislak portfolio now includes four multifamily communities in the Dallas/Ft. Worth market, and more than 2,000 units in properties nationwide. Backed by more than a century of real estate experience, the Kislak Organization has established an impressive track record of successfully acquiring and asset managing multifamily properties. Kislak is seeking additional acquisitions throughout the Sun Belt.
Routh Street Flats
214 720 1900
3033 Routh Street
Dallas, Texas 75204