Domain at Midtown Park in Dallas

Partnership Acquires 395-Unit Domain at Midtown Park in Dallas

by Channing Hamilton

DALLAS — A partnership consisting of investment firms Waterford Property Co., The Vistria Group and Northern Liberties has acquired Domain at Midtown Park, a 395-unit community in North Dallas. Walker & Dunlop originated Freddie Mac acquisition financing for the deal. Built in 2016, Domain at the Park offers amenities such as a pool, clubhouse, fitness center, business center, outdoor grilling and dining stations, dog park and a golf simulator.

Concurrent with the sale, the new owners also entered into a 99-year ground lease with the Dallas Housing Finance Corp. to place rent restrictions on the property in exchange for a full property tax abatement. Of the total unit count, 51 will be set aside for renters earning 80 percent or less of the area median income (AMI). An additional 39 percent of the residences will be earmarked for households earning 140 percent or less of AMI.

You may also like