Utah moves east and buys Dallas apartments

DALLAS – Two Dallas-area apartment communities have been purchased with more than 560 units.

The 328-unit Pace’s Cove Apartments at 13100 Pandora Dr. in northeast Dallas, and the 232-unit Brookfield apartments at 4060 Preferred Rd. in southwest Dallas were both acquired by Utah-based Peak Capital Partners.

Both properties were built in the 1980s and are more than 95 percent leased.