LOS ANGELES, CA–(Marketwired – Sep 22, 2015) – Aragon Holdings (www.AragonUSA.com) announced further expansion of its national multi-family portfolio through the acquisition of The Madison Apartments, a 364-unit property located in Dallas, TX. The acquisition was purchased using the firm’s private equity fund, Aragon Multi-Family Fund IV, and financing was provided by Freddie Mac.
The Madison Apartments, Aragon’s eighth acquisition in the Dallas-Ft. Worth (DFW) market, offers amenities that include two swimming pools, a clubhouse, a business center, and a playground. The immediate area provides close proximity to major employment corridors, attractive shopping and recreational offerings, strong educational resources, and convenient access to major transportation thoroughfares. With demand increasing and no new supply scheduled to come into the submarket, Aragon anticipates that The Madison will continue to grow effective rents.
The DFW metro has added over 100,000 jobs in the past year, and has one of the lowest unemployment rates in the nation. DFW is consistently ranked as one of the top regions in the nation for doing business. Major contributing factors are its low cost of living, business-friendly environment, and strong base of well-educated and skilled employees.
Dan Guy, President of Aragon Holdings, stated, “The DFW market has always been attractive to us. The properties we own there continue to outperform projections, and we expect the same will be true for The Madison. We are pleased to bolster our presence in a market that continues to exhibit some of the best economic performance in the country.”
Aragon Holdings is a Private Real Estate Investment and Fund Management Company based in Los Angeles, California, that acquires and manages multi-family properties on behalf of high-net-worth investors. With over $1 billion in assets under management, its portfolio includes over 10,000 apartment units located in 10 major metropolitan areas nationwide, including Albuquerque, Atlanta, Dallas, Denver, Fort Worth, Houston, Kansas City, Orlando, Salt Lake City and San Antonio.