Tides Equities Picks Up Another DFW Multifamily Project
September 8, 2022
Tides Equities continues to grow its Dallas-Fort Worth footprint with the purchase of Solaris, a 432-unit community. Taylor Hill, with Institutional Property Advisors, closed the deal on behalf of the buyer. The previous owner was The ValCap Group. Solaris will be rebranded as Tides on Leisure, and the new owner is planning a capital improvement plan worth roughly $9.5 million. This purchase marks the company’s 45th acquisition in the Greater Dallas area and the 137th in the Western U.S. since 2016.
Built in 1983, the property—consisting of 33 buildings—offers one-, two- and three-bedroom floorplans averaging 762 square feet. Community amenities include a playground, a clubhouse, a fitness center, as well as swimming pools and outdoor barbecue areas.
The property is located at the intersection of Lake Highlands and Richardson neighborhoods, positioned in the immediate area of Interstate 635 and Highway 75.