Bankruptcy Real Estate Sale of Dallas Mixed-Use Apartment Complex Closes at $20.8M in Just 70 Days
193-unit multifamily building with ground-floor retail in Southern Dallas sold through a structured bankruptcy real estate sale, exceeding the minimum bid by $18 million.
$20.8M
Closing Price
37 Days
Total Marketing Period
35
Total Closing Period
Challenge
Hilco Real Estate Sales (HRE) was retained by the debtor to lead the sale of Lancaster Urban Village, a modern 193-unit apartment building with five ground-floor retail units in southern Dallas. The asset, part of a Chapter 11 bankruptcy proceeding, required an expedited sale that could attract national interest while exceeding the minimum bid amount set by the court.
Strategy
HRE executed a two-phased structured sales process focused on creating maximum competition among qualified multifamily investors. The approach included:
- A compressed but aggressive marketing timeline targeting national operators, syndicators & value-add buyers
- Use of digital campaigns, buyer lists & direct outreach to activate interest within days
- Controlled auction structure that pushed bidding well above expectations
- Close coordination with bankruptcy counsel & court to finalize the sale on an accelerated schedule
Results
- $20.8M Final Sale Price
- $18M Over the Minimum Bid
- 37 Days Total Marketing Period
- 35 Days to Close
- Entire Process Completed in Just 70 Days
Outcome
HRE’s efficient and competitive sales process resulted in a premium outcome for a multifamily asset in a challenging legal context. The sale not only outperformed financial benchmarks but also demonstrated HRE’s ability to drive value for distressed urban assets in tight timelines.