DALLAS, TX – Southern Properties Capital (SPC) a subsidiary of Transcontinental Realty Investors, a Dallas based real estate investment company, announced the very positive success in acquiring and enhancing Chelsea Apartments. The US Department of Housing and Urban Development granted Southern Properties Capital the loan to buy the multifamily asset in August of 2018. Since then, Southern Properties Capital and the Chelsea management staff have been working diligently to enhance its overall performance.
We have owned and operated properties in this particular area of Texas and along the Gulf coast for over a decade, stated CEO and President Daniel J. Moos. This particular asset was a diamond in the rough when we bought it. The transaction is aligned with our business model of either building or acquiring Class A properties that can be enhanced in value. Chelsea Apartments has proven very successful and now exceeds 95% leased. Our team has done an brilliant job with this property.
Chelsea Apartments are located in Beaumont, Texas. The property offers 8 different one, two, and three bedroom floor plans ranging from 618-1239 square feet. The 144 unit garden style community is comprised of 10 two-tale residential buildings atop 6.81 acres of land. Chelsea Apartments offer a distinctive, silent living environment with quick and convenient access to Interstate 10.
Beaumont-Port Arthur is home to impressive biodiversity and historical significance as the town boasts the first major oil discovery in Texas. Benefits from the constant expansion of the energy industry and petrochemical industry construction is a major economic driver for the area. Visitors delight in outdoor activities including fishing, hunting, birding, paddling, as well as fine dining, several theaters and music venues. The city is currently celebrating its 180th birthday.

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VIRGINIA BEACH, VA – DF Multifamily, a division of Drucker + Falk, one of the nation s most prominent multifamily management companies, recently assumed management of Kingstowne Apartments and Townhomes in Newport News, VA.
Located in the heart of Oyster Point and minutes from Marketplace at Tech Center and City Center, Kingstowne joins other DF Multifamily managed communities including Waterman s Crossing, Chesapeake Bay Apartment Homes, Compass at City Center, and Mariner s Green Apartments.
While some of the 384 apartments & townhomes have recently undergone renovations, the community s ownership group, is currently finalizing capital plans for additional renovations to include the addition of a resident clubhouse, upgrading existing amenities, as well as interior and exterior renovations.
The addition of Kingstowne Apartments & Townhomes brings Drucker + Falk s management portfolio to over 24,500 apartment homes in the Mid-Atlantic and the company s overall portfolio to nearly 40,000 apartment homes across twelve states. Deidre Brown, Director of Multifamily Management for Drucker + Falk, commented, We are thrilled to add to the company s growing Mid-Atlantic portfolio, having already seen tremendous improvements with the communities we manage, and having successfully seen through upgrades, in the surrounding area.
Drucker + Falk was one of several companies being considered for management. Wendy Drucker, Managing Director for Drucker + Falk added, It was an honor to learn that we were selected because of our responsiveness, attention to detail and superior customer service from both our corporate and our onsite management teams. We look forward to working with the Owners and are excited to start the renovations on the community.

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FRISCO, TX – Bell Partners, one of the nation’s leading apartment investment and management companies, announced the acquisition of two properties in Frisco, Texas: The Emerson (410 units) and Emerson Court (312 units), on behalf of its Fund VII investors. These adjacent mid-rise multifamily communities will be combined into a single community and renamed Bell Frisco Market. Bell Frisco Market is Bell Partners’ 6th owned community in the Dallas-Fort Worth area.
Bell Frisco Market features high-quality construction and modern amenities. The Emerson was built in 2015, and Emerson Court was built in 2018. The community is located in the heart of the Frisco North Platinum Corridor and is within close proximity to a number of lifestyle, retail, athletic and entertainment centers. The property also offers simple access to North Texas’ largest employment hubs, with an additional 4 million square feet of office and medical space expected to come online in the submarket in the next 3-4 years.
“As one of the fastest growing cities in the nation, Frisco’s employment prospects make it an attractive market for Bell Partners,” said John Blaylock, Senior Vice President of Investments at Bell Partners. “Frisco epitomizes the overall growth of the Dallas metro, which is projected to double in population over the next few decades and add millions of jobs in the process. This acquisition adds to our existing portfolio in Frisco and is consistent with our investment strategy to buy high quality communities with potential to increase operating income and property value by utilizing our vertically integrated platform and scale.”
The property is comprised of two four-tale buildings with brick exterior. Bell Frisco Market’s units include subway kitchen tile backsplash, granite countertops, stainless steel appliances and vinyl plank flooring in living rooms and bathrooms. Select units feature outdoor terraces or private patios. Each phase offers a resort-style pool with grilling stations and cabanas, indoor and outdoor gaming lounges, and a state-of-the-art fitness center. Bell plans to consolidate management and leasing operations into one phase and adapt common areas in the other phase into modern co-working spaces to serve as an attractive amenity for the residents.

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