Michaelson Real Estate Group, LLC and a private equity investor aquire La Bella Palms Apartments in Dallas, Texas

Michaelson Real Estate Group, LLC and a private equity investor have acquired La Bella Palms Apartments, a 117-unit garden-style apartment community in Dallas, Texas. The asset enjoyed 92% occupancy at the time of purchase.

Dallas, the most populous city in the Dallas-Fort Worth metroplex, is known for its strong economy, sports and cultural opportunities. La Bella Palms is located at 9450 Royal Lane. It has convenient access to Interstates 635 and North Central Expressway (US-75). Downtown Dallas, Galleria Dallas, Harry Moss Park and many major employers, are within an easy driving distance. The community is within walking distance to elementary schools, grocery stores, educational institutions and shopping centers.

Built in 1978, La Bella Palms features a mix of one, two and three-bedroom apartments in five different floor plans with fully equipped kitchens with frost-free refrigerators, garbage disposals and dishwasher and carpeted/upgraded vinyl floors, private balcony/porches. Units are plumbed with full size washer/dryer connections. The property also boasts a superior amenity package including a sparkling pool, tennis court, soccer court, laundry facility, picnic area and two-story clubhouse with deck.

Major recent renovations include a new roof, exterior painting and wood trim.

Michaelson is a full service multi-family housing and commercial real estate management and investment firm. Michael N. Moses, the principal, is a seasoned real estate executive and entrepreneur with more than 30 years of experience in the multifamily market. Michaelson recently expanded its market-leading multi-family property management business into Texas. It now operates twelve Texas apartment communities in Dallas and San Antonio.