Dallas, Texas – Huffines Communities, one of the largest residential developers in the DFW Metroplex, announced the sale of the 644-unit Harmony Hill Luxury Apartments. The two-time MCSam ‘Multifamily Community of the Year’ was sold to the Seattle-based Weidner Apartment Homes in May.
Harmony Hill Apartments was not on the market and the opportunity for sale was originated by Kevin O’Boyle with CBRE. “Our firm was in the process of refinancing the asset when we were approached with an offer we could not refuse,” said Haley Gigliotti, Huffines Communities’ Director of Multifamily.
This exit for Huffines comes only 2 years after the firm sold their flagship development, Hebron 121 Station, to a New York based buyer. Hebron was a Class-A trophy asset with over 1,400 units located in Lewisville, Texas. Despite the recent exits, Phillip Huffines, President of the firm, passionately believes in developing for long term holds. He and his brother Donald enjoy the details of design and creating unique communities that consistently outperform the competition.
Harmony Luxury Apartments in Rowlett, Texas, offers spacious one-, two-, and three-bedroom floorplans and over the top amenities, with 10’ ceilings and a 17,000 SF Clubhouse. The 15-building garden-style community was built in two phases. Phase 1 of the project has a total of 326 units, and upon completion in 2017, there was a resident waiting list. Phase 2, totaling 318 units, was completed in 2019 and has been equally successful.
About Huffines Communities:
Huffines Communities, founded in 1985, started primarily as a residential land development firm. Today, the company is one of the largest, privately held, multifamily and single-family developers in the Dallas-Fort Worth area. The firm has built over 2,400 apartment units and over 15,000 single-family lots in the last 15 years.
About Wiedner Apartment Homes:
Wiedner is a privately held Seattle-based company that owns over 57,000 units across 12 states and two countries, according to NMHC. The firm’s founder, Dean Weidner, bought his first rental property in Seattle, WA in 1977 and now ranks as the 15th largest apartment owner in the United States.