SFO adds more than 1,000 multifamily units to its US housing program
SFO Group (“SFO”) announces the acquisition of its largest multifamily housing portfolio to date in the USA, Residence at North Dallas (“Residence”). Located in Dallas, Texas, Residence is a 1,032 residential community spread over 38.4 acres of land and enjoys a current occupancy of 96.0%. Residence is ideally situated in a well-established infill location at close proximity to international airports, top-tier schools and at the heart of major employment corridors home to more than 500,000 jobs.
Commenting on the transaction, Mohamad Abouchalbak, CEO of SFO Group, said: “This transaction represents a key milestone for SFO’s US Housing program, which in less than two years has attained a value of more than USD500 million encompassing almost 3,000 units spread across multiple cities and states”.
SFO’s continued interest in Texas and specifically Dallas is drawn from its friendly tax environment, low cost of living and its appeal to investors as a regional powerhouse with robust economic fundamentals. Dallas has added over 100,000 new jobs per annum over the past two years and ranked as the fastest growing metropolitan city and the fourth largest economy in the USA in 2018.
About SFO Capital Partners: SFO Capital Partners is a London-based global real estate investor and investment manager, committed to achieving superior risk-adjusted returns and focused on establishing and maintaining long-term relationships with its global clients and partners. SFO Capital Partners applies its global mindset, in-depth sector experience and local knowledge to unlock international real estate investment projects in Europe and the USA across a select range of investment strategies including income-generating, value-add and development schemes. As of June 2023, SFO Capital Partners has acquired a diversified portfolio comprising more than $2.2 billion in assets located primarily in the USA and Europe, including 7,000 apartments and more than 9.6 million square feet of commercial real estate under management.