DALLAS--(BUSINESS WIRE)--Lion Real Estate Group (“Lion” or the “Firm”), an investment firm focused on multifamily properties in the Sun Belt states, announced that it has acquired District 2308, a Class B 240-unit multifamily property located in Arlington, TX, approximately two miles north of AT&T Stadium, home of the Dallas Cowboys, and Texas Live!
Ben Kriegsman, Director of Acquisitions at Lion, said, “District 2308 is our second acquisition in our third discretionary fund and represents an incredible opportunity for us to bring our proven, value-add program to another asset in the robust Dallas-Fort Worth (DFW) Metroplex. Lion now owns 2,226 units in DFW, and we are committed to growing our portfolio across the Sun Belt and Southeast by acquiring additional communities at an attractive basis. Current market dynamics, our access to accretive fixed-rate financing, and our vertically integrated management platform separate Lion from many other real estate investment firms, allowing us to confidently deliver robust cash flows and risk adjusted returns to investors while providing quality housing to our communities.”
To ensure that District 2308 meets Lion’s high-quality standards and is in line with the rest of its Dallas-Worth Worth portfolio, the Firm plans to renovate 100% of the unit interiors with stainless steel appliances, quartz countertops, new flooring, refreshed paint, among other premium upgrades. Focusing on a niche sector allows for bulk pricing and reduced renovation costs per unit. Lion also intends to make improvements to amenities and common areas at the property. The Firm recently onboarded a President of Operations and a Vice President of Marketing who will play an integral role in the Firm’s rapidly expanding operations across the country.
About Lion Real Estate Group
Lion Real Estate Group was founded in 2007 by Jeff Weller and Mory Barak. The Firm seeks to acquire value-add and opportunistic multifamily properties located in the Sun Belt region of the U.S. Lion has executed over $2.5 billion of real estate transaction value across 116 projects encompassing more than 13,600 units since inception. Lion’s corporate headquarters is based in Dallas, TX with additional offices located in Los Angeles, CA and Nashville, TN. Lion’s limited partners are high-net worth and institutional, based both domestically and internationally. For more information or for potential investment opportunities, please visit Lion’s website at www.lionreg.com
