Moody National Takes DST Program Full-Cycle for 200%+ Return

Moody National Companies announced the sale of Bardin Greene apartments for $51 million.

The company says this sale completed the investment cycle for Moody DFW DST, a Delaware statutory trust offering sponsored by Moody which consisted of two assets located in the Dallas Fort-Worth Metroplex.

The 285-unit garden-style apartment complex was originally purchased for approximately $30.7 million by the DST.

As The DI Wire previously reported, Lost Spurs Ranch apartments, the other asset in the DST, previously sold for $48 million in September 2022 after being originally purchased for $24.1 million. Both assets were managed by Moody National Multifamily Management after being acquired in 2018.

Combined with Lost Spurs Ranch, Moody National says the recent sale of Bardin Greene represents more than a 200% return on the original equity to investors in the DST, exclusive of distributions received throughout the offering. According to the company, distributions to the investors were uninterrupted, averaging 5.8% annually over the five-year hold period.

“I was impressed to see this deal make it to closing given the disruption that evolved in the capital markets over the last few months,” Brett Moody, chief executive officer, said. “If not for the seasoned professionals on the buyer and seller teams, this closing would not have seen the light of day. We rolled out of a number of our multifamily assets in light of the historical capitalization rate compression witnessed in 2022.”

Moody National Companies is a full-service commercial real estate company that includes mortgage, development, management, realty, title and insurance divisions. Founded in 1996, Moody National Companies has managed more than $2.2 billion in commercial real estate.

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