Sedona Ridge

The Sedona Ridge Apartments is a 317-unit complex located in northeast Dallas. The property was bank-owned when we purchased it in 2011. Occupancy at sale was below market average due to the fact that there was a shortage of parking available for tenants.

When ownership of the asset was taken, Westmount immediately implemented a transition program which included performing immediate repairs and identifying critical issues to address. Most notably, approval was received from the City of Dallas to construct new parking spaces on the adjacent .69 acre parcel of land. The parking area was completed, alleviating one of the main factors that was inhibiting occupancy growth.

We sold the property in 2013 after raising occupancy to 87%.

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