SACHSE, TX – 37th Parallel Properties, a multifamily real estate investment firm, announced the acquisition of Woodbridge Villas, a 222-unit, 2002-built community in Sachse, Texas. The off-market acquisition is the firm’s latest investment in the Dallas-Fort Worth metro and expands its institutional-quality portfolio across the South and Southeast.
“Woodbridge Villas is the type of asset and submarket we have consistently pursued throughout our history,” said Dan Chamberlain, Managing Partner. “Sachse is an affluent, supply-constrained pocket of northeast Dallas with a median household income of approximately $117,000, top-rated schools, and a crime rate roughly half the Texas average. Those characteristics drive long-term, family-oriented demand. Submarket homeownership costs drive a durable rent-versus-own affordability buffer, which also supports occupancy and pricing power.”
The submarket benefits from a near-zero forward supply pipeline, with only one project under construction and none currently proposed within a seven-mile radius of the property. Limited entitled land, adjacency to established single-family neighborhoods, and political resistance to density collectively raise the barriers to new development, supporting steady occupancy and sustained rent growth…