View Case Study Below ||| Deal Opens For Investment in July For A Limited Time
|||
View Case Study Below ||| Deal Opens For Investment in July For A Limited Time |||
Devonshire Lake Dallas
A 140-unit Class A multifamily investment opportunity in North Dallas featuring a 100% untouched value-add strategy, attractive basis, and 50% tax abatement.
Property Overview
Devonshire Lake Dallas is a 140-unit institutional-quality Class A multifamily community located in a highly desirable North Dallas submarket. Built in 2015, the asset offers investors an opportunity to acquire a newer vintage property with strong fundamentals and significant upside through operational improvements and unit renovations.
Why We Love This Opportunity
Devonshire Lake Dallas combines an attractive acquisition basis, meaningful value-add potential, tax advantages, and a high-quality North Dallas location creating multiple drivers of long-term investor value.
-
Devonshire Lake Dallas was acquired at approximately $157,000 per unit, significantly below comparable sales in the surrounding market. This favorable basis provides investors with a strong starting position and potential upside as the business plan is executed.
-
Unlike many renovated assets, every unit remains in classic condition. This allows the ownership team to implement strategic interior and exterior improvements designed to enhance resident experience, improve property performance, and unlock future rent growth.
-
The property benefits from a unique tax abatement structure that helps reduce operating expenses and increase cash flow. This advantage supports stronger property performance while providing additional protection during changing market conditions.
-
Situated within the Dallas–Fort Worth Metroplex, the property benefits from strong population growth, economic diversity, excellent schools, and convenient access to major employers, retail destinations, and recreational amenities including Lewisville Lake.
-
The investment is supported by long-term HUD financing with a fixed 3.18% interest rate, helping reduce interest-rate risk while providing predictable financing throughout the hold period.
-
The sponsorship team has acquired more than $350 million in multifamily assets, operated over 3,200 units, and successfully completed multiple full-cycle investments. Their experience and hands-on approach position them well to execute the Devonshire business plan.
Market Overview
Located In One Of The Nation's Fastest Growing Regions
The Dallas–Fort Worth Metroplex continues to be one of the strongest multifamily markets in the United States, driven by sustained population growth, job creation, and business expansion. As more residents relocate to the region, demand for quality rental housing remains strong across key submarkets.
Devonshire Lake Dallas benefits from its location within a desirable North Dallas community, offering residents access to major employment centers, highly rated schools, retail destinations, and recreational amenities including Lewisville Lake. These factors support long-term occupancy, rental demand, and investment performance.
Meet the Team
Experienced multifamily operators with a proven track record in acquisitions, asset management, and value creation across high-growth markets.
Dustin Miles is a Managing Partner at Momentum Multifamily and has syndicated 18 multifamily investments totaling more than $350 million in transactions across multiple markets.
Throughout his career, he has raised more than $108 million in investor equity and overseen numerous acquisitions, asset management initiatives, and successful full-cycle exits.
His experience spans acquisitions, investor relations, portfolio management, and value-add execution, helping create long-term value for both residents and investors.
Hayden Harrington is a Managing Partner at Momentum Multifamily and plays a key role in acquisitions, asset management, and portfolio growth across the firm's multifamily portfolio.
He works closely with the leadership team to identify investment opportunities, execute business plans, and oversee operational strategies designed to maximize long-term value for investors.
With a focus on disciplined acquisitions and resident-focused property improvements, Hayden helps drive Momentum Multifamily's mission of creating strong communities while delivering attractive risk-adjusted returns.