AMLI Design District in Dallas. Image provided by: JLL
Hasta Capital has acquired AMLI Design District, a 23-story, 314-unit property in Dallas. The company purchased Class A communities from: AMLI Residential Sales price is not disclosed.
JLL Capital Markets represented the seller and sourced the buyer. JLL also secured financing through Freddie Mac Multifamily on behalf of HASTA Capital. Serviced by JLL Real Estate Capital LLC Freddie Mac Optigo Lender.
JLL Capital Markets' investment sales and advisory team was led by Roberto Casas, Senior Managing Director. JLL Capital Markets' debt advisory team is led by Managing Directors Melissa Quinn and Lee Weaver, Vice President Rob Rosorg, Analyst Christian Seeman, Director Lauren Dow and Associate We were assisted by a local Dallas debt advisory team, including Chris Grievous.
Property details
Located at 1400 High Line Dr. in the Design District, the community was built in 2013. The community features 312,806 square feet of residential space, 26,830 square feet of ground-level retail, and 664-space covered parking.
ALMI Design District offers a mix of studio, one-bedroom, and two-bedroom floorplans. Apartments feature spa-style bathrooms, walk-in closets, hardwood-style vinyl floors, floor-to-ceiling windows, and washers and dryers. Community amenities include an infinity edge pool, pool deck with private cabanas, outdoor grilling stations, lounges, coffee bar, fitness center, meeting rooms, pet spa, and indoor and outdoor pet parks. The property offers personal bike storage and free bike rental.
The Design District is part of the Intown submarket and is known for its high-end retail stores, showrooms, and dining experiences. The facility is located just off Interstate 35E, which handles approximately 250,000 vehicles per day and is an eight-minute drive to the employment hub of downtown Dallas. AMLI Design District is a 20-minute drive from Dallas-Fort Worth International Airport.
HASTA and AMLI activities
Founded in 2016, HASTA Capital focuses on multifamily investment and development in the United States and Latin America. In May 2020, HASTA Capital acquired The Millennium Kirby, a 378-unit community in Houston, from The Dinerstein Cos. and rebranded it as Mezzo Kirby. HASTA owns several other Texas properties, including The Mondrian, his 218-unit property in Dallas.
AMLI Residential, a national multifamily developer and owner, also recently sold another multifamily property in Dallas, the 300-unit ALMA on Maple. Earlier this month, CONAM Multifamily Partners Fund III announced the acquisition of a four-story Class A community. His four-story building on six acres is within walking distance of UT Southwestern Medical Center and close to Dallas Love Field Airport.
In August, AMLI Residential announced plans to develop AMLI Treehouses, a 449-unit apartment community in Addison, north of metro Dallas. The development will include 370 market-rate apartments in the main building, 35 senior living units, 14 rental townhouses, 30 condominium townhouses, live/work housing, and 7,000 square feet of retail space. I am planning to do so. Construction is expected to begin in early 2024, with pre-leasing expected to begin in the second quarter of 2025.
Earlier this year, AMLI Residential's 390-unit AMLI RiNo at Denver Five Points Uptown was the largest apartment complex delivered in Denver in the first half of 2023.
