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

Michaelson Real Estate Group, LLC and a private equity investor have acquired Chesapeake Apartments, a 126-unit apartment community in Dallas, Texas. The asset enjoyed 98% 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. Chesapeake is conveniently located just North of I- 635 and just South of Forest Lane in North Dallas. It is close to the Galleria Dallas, major thoroughfares including the North Dallas Tollway, Highway 75, DART Stations, Harry Moss Park and many major employers. The community is within walking distance to elementary schools, grocery stores, educational institutions and shopping centers.

Built in 1982, Chesapeake features one and two-bedroom apartments in four different floor plans with fully equipped kitchens with frost-free refrigerators and garbage disposals, carpeted/upgraded vinyl floors, vaulted ceilings, crown molding, wood burning fireplaces and private balcony/porches. Units are plumbed with full size washer/dryer connections. The property also boasts a superior amenity package including two sparkling pools, beautiful landscaping, business center, picnic area, gated access and reserved covered parking.

Major recent renovations include a new roof, new hardi-board exterior, new 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 nine Texas apartment communities in Dallas and San Antonio.