The property expands the affordable housing developer’s portfolio by Dallas-Fort Worth TX.
Arlington, Texas — Jan. 4, 2022 — Dominium, a leading national owner, developer, and manager of affordable housing, announced today the closing of its acquisition of the Rosemont at Mayfield Villas property in Arlington, Texas. The 280-unit property expands Dominium’s existing portfolio in the Dallas-Fort Worth area.
Rosemont at Mayfield Villas was built in 2004 using 4% low-income housing tax credits. Dominium plans to renew the property’s affordable housing status in 2023 while conducting approximately $8,500,000 of improvements including an updated clubhouse, new site amenities, and enhancement of individual unit interiors.
Financing was provided by Merchants Bank of Indiana. Development partners include Merchants Bank of Indiana, Chicago Title Company, and Winthrop & Weinstine.
Dominium is grateful for these partners who made it possible to close this transaction and to all who will be involved in this important project in the future.
Founded in 1972, Dominium is a leading national owner, developer, and manager of affordable apartment communities with offices in Atlanta, Dallas, Phoenix, and Minneapolis. Owning and managing over 35,000 homes at over 200 sites in about half of all U.S. states, Dominium is known for creative solutions to unique and challenging development projects, and management expertise. Dominium was named a Best Managed Company by Deloitte in 2020. As of 2020, Dominium was ranked second largest owner of affordable housing by Affordable Housing Finance; and 31st in 2020 in NMHC 50 Largest Apartment Owners ranking. For more information, visit www.dominiumapartments.