Homes of Persimmons Closing

ALLEN MULTIFAMILY TEAM FACILITATES SALE OF HOMES OF PERSIMMON COMMUNITY IN DALLAS

(DALLAS—May 19, 2020)  Allen Multifamily Team facilitated the sale of Homes of Persimmon, a two-story, 32-building multifamily community with 180 units located at 3425 Simpson Stuart Road in Dallas, Texas.  The disposition team, led by Mark Allen CCIM, joined forces with the Colliers Affordable Housing Group’s John Nguyen and Connor Canale. The property was sold for an undisclosed amount.

“This eye-pleasing property garnered attention from investors from coast to coast,” said Mark Allen CCIM, who led the team representing the Dallas-based seller and attracted a Seattle-based buyer. “Seventy-four percent of the units are under an affordability restriction and they lease up quickly, yielding strong returns.”

Built in 2000, Homes of Persimmon features two to four-bedroom units ranging from 1,023-1,390 square feet. Common area amenities include a swimming pool, playground, basketball court, picnic area, clubhouse, fitness center and leasing center with an on-site property manager.

The units feature many upgrades including in-unit washer/dryer hook, direct access to the one-car garage, walk-in closet, and security system.

Homes of Persimmon is 10 miles from downtown Dallas, allowing access to local amenities such as Methodist Charlton Medical Center, the University of North Texas at Dallas, and Dallas Executive Airport. Just 1.5 miles from Interstates 20 and 45, it is a short commute to downtown Dallas and surrounding areas.