A Honey Creek of a Deal
If you live in the gigantuous Honey Creek Apartments complex on Ferguson Road and LBJ Freeway, you just got a new landlord -- and from the sound of some of the reviews here, not a moment too soon. (Among the problems cited by current and former residents: rats, bed bugs and drug dealers.) According to GlobeSt.com, the complex was owned by a Tampa-based real-estate investment company, but the 23-year-old, 656-unit, 22.4-acre complex is now in the hands of California- and Houston-based Concierge Asset Management, which paid just less than the $19.5 million asking price. Concierge's CEO tells GlobeSt.com, "We are very bullish on the combined metropolitan area of Dallas/Fort Worth, and we believe Honey Creek's submarket is well positioned for economic growth." --Robert Wilonsky
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