Caught in the syndicator spiral: the worst apartments in the nucleus of the multifamily frenzy

North Texas’ worst apartment complexes have more in common than the fact that they’ve all been sitting empty, having recently been evacuated after years of code compliance issues.  They’re all owned by multifamily syndicators. These investors pitched their firms as value-add operations, raising pooled capital for plans to buy and revamp outdated apartment complexes, then sell them at a profit. They tore through Sun Belt growth spots like Dallas-Fort Worth in the early 2020s until rising interest rates flipped on the lights at the party.  Now, in the worst-of-the-worst examples of the syndicator spiral, a handful of North Texas properties Read More