DALLAS - A year after Victory Park’s 28-story House condominium tower started offering rentals, the high-rise is about 80 percent occupied.
The luxury residential tower on the northwest edge of downtown Dallas came on the market just as the recession hit. One year ago it was less than 20 percent occupied.
Lender HSH Nordbank AG foreclosed on the 112 unsold units in the property in 2012.
Premier Communities is filling up the building with a combination of sales, purchase options and rentals. As of May 2013, 32 units have been sold, 51 are leased with an option to buy and another 23 are standard leases.
With the options, a portion of the tenants’ $2,700 to $3,750 monthly rent is put into escrow for a future purchase.
Read more at The Dallas Morning News.
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