Seminole Real Estate Fund Purchases 124-Unit Luxury Apartment Building in Dallas

The Hudson apartments are on McKinney Avenue in Dallas, Texas. Photo Credit: Hudson Apartments. 

Dallas, TX — Last year, the Seminole Tribe of Florida launched its Seminole Real Estate Fund (SemREF) and acquired the first asset in its real estate portfolio—a 10 floor, 144-unit apartment building in Dallas. Recently, SemREF further expanded its portfolio with the acquisition of a second Dallas property: the Hudson Apartments on McKinney Avenue.

The Hudson Dallas is a luxury building featuring 124 units and amenities including a fitness center, co-working lounge, elevated swimming pool and sun deck, spin cycling studio, a pet spa, and an outdoor entertainment kitchen with fire pits and a grill. The building was designed with studio, one-, two-, and three-bedroom apartment homes featuring designer kitchens and contemporary finishes. Apartments include soaking tubs, large balconies, ceiling fans, walk-in closets, granite countertops, and stainless-steel appliances. Select homes feature private yards and walk-in showers.

One-bedroom apartments at the Hudson Dallas can currently cost up to $2,782 per month in rent, while three-bedroom apartments can cost as much as $5,550 monthly.

The fund also currently owns a third property in North Carolina: Alton Optimist Park. In total, the three properties owned by SemREF contain 534 units.

According to SemREF’s website, the fund’s strategy “is to invest in stabilized class A multifamily assets featuring best in class amenities located both in urban and suburban core markets around the United States.”

“These markets feature high barriers to entry, strong employment, growing populations driven by an educated workforce, and strong anchor industries,” the fund said.

As reported in The Seminole Tribune, SemREF “was created to bring generational wealth to the lives of tribal members.” The Seminole Tribune also notes that the demand for multifamily apartment rentals is on the rise, as millennials are delaying the purchase of single-family homes and older generations are downsizing to apartments to capitalize on increased property values.

“Until now, the tribe’s sovereign wealth fund has received most of its revenue from casino properties, but after extensive research and deliberation, it was concluded that commercial real estate is the next advantageous, conservative opportunity for tribal investment,” the Seminole Tribune writes. “By investing in apartments, […] the tribe is taking its first steps in diversifying its sources of revenue.”

SemREF continues to seek properties built in 2017 or newer with 100 to 300 units, featuring best in class amenities, located in infill or core locations, and containing core multifamily assets. Its target markets include Atlanta, Austin, Charlotte, Dallas, Denver, Las Vegas, Los Angeles, Nashville, Phoenix, Raleigh-Durham, Sacramento, Salt Lake City, the San Francisco Bay Area, Seattle, South Florida, Tampa Bay, and Washington DC.

Carmen Davis - Founder, Publisher and Executive Editor of Native Business Magazine

Carmen Davis - Founder, Publisher and Executive Editor of Native Business Magazine

Mrs. Davis is the founder, publisher and executive editor of the only Native American owned and operated national tribal business publication, Native Business Magazine, and the producer of the annual and nationally attended Native Business Summit.

Mrs. Davis is also president of Davis Strategy Group has over 23 years of service to Indian Country and as an entrepreneur she has successfully established, operated, managed and grown several businesses in multiple sectors. She is equal parts a strategic visionary and behind-the-scenes implementor, essential in guiding and overseeing every process of brand development, business expansion, nation-to-nation relationship building and more.

She was named in 2009 as one of the first recipients of the National Center for American Indian Enterprise Development’s, “40 Under 40” award which recognizes up and coming community and business leaders from across Indian Country.

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