Machine Investment Group Acquires 490-Unit Multifamily Community in North Dallas
Machine Completes Off-Market Acquisition of 75 West in Joint Venture with RPM Living Investments
Latest Investment Expands Machine's Residential Portfolio with a Value-Add Community in Supply-Constrained, Infill Location
Machine acquired 75 West in a joint venture with RPM Living Investments, which will also serve as property manager.
Located at
Machine sourced the acquisition through an off-market, lender-driven process. The transaction gives the firm an opportunity to acquire a well-located, institutionally owned asset at a reset basis and continue an operational turnaround already underway at the property. Machine plans to reinvest in the property through a comprehensive program of deferred and preventive maintenance, targeted amenity enhancements, and operational improvements designed to stabilize the asset, enhance its long-term performance, and elevate the resident experience.
"75 West represents an exciting opportunity to acquire a high-quality asset in an infill location where our firm can leverage our disciplined operating approach to unlock the property's long-term value," said
About Machine Investment Group
Machine Investment Group (Machine) is a real estate investment platform focused on opportunistic, distressed, and special situations across the
About RPM Living
RPM Living is a full-service multifamily real estate company offering an innovative and personalized approach to real estate services, including investment, development and management. Headquartered in Austin, Texas, RPM is one of the most active multifamily investors in the United States, with an owned portfolio valued more than $8 billion. RPM is ranked #4 on the NMHC Top 50 Largest Apartment Manager list, managing more than 241,000 units on behalf of more than 250 clients across 11 regional offices and more than 50 markets. The firm's investment platform, overseen by Hank Farrell III, leverages RPM's extensive operating expertise, proprietary market intelligence and national footprint to identify, acquire, develop and optimize multifamily investments across a range of markets and strategies. Founded by Jason Berkowitz in 2002, RPM has grown to more than 5,000 associates nationwide, providing a comprehensive, integrated approach to enhancing real estate investments through disciplined underwriting, active asset management and best-in-class operations. https://rpmliving.com/
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Great Ink Communications
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SOURCE Machine Investment Group
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