BSR Buys Dallas Complex for $53M

BSR Buys Dallas Complex for $53M
Wimberly Apartments in Dallas (BSR)

BSR Real Estate Investment Trust of Little Rock said Wednesday that it bought Wimberly Apartments in Dallas for $53.1 million.

BSR said the purchase is expected to be immediately accretive to its adjusted funds from operations.

Wimberly, built in 1995, is a 372-unit multifamily complex on about 16.8 acres. It has 18 three-story apartment buildings.

It's the company's fourth property in the Dallas-Fort Worth metro. It now owns 1,492 units in the MSA, representing 18 percent of its net operating income.

Wimberly is also the REIT's fourth property acquisition since completing its initial public offering on the Toronto Stock Exchange on May 18.

In October, the company closed on a $28.9 million acquisition of Towne Park at Har-Ber Apartments in Springdale.

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