37th Parallel Properties Expands Dallas-Fort Worth Footprint with Off-Market Acquisition of 222-Unit Woodbridge Villas

37th Parallel Properties, a multifamily real estate investment firm based in Richmond, Virginia, has announced the acquisition of Woodbridge Villas, a 222-unit residential community located in Sachse, Texas. The deal, finalized on July 30, 2026, marks a strategic expansion of 37th Parallel's portfolio within the Dallas-Fort Worth area, although the specific financial terms of the acquisition remain undisclosed.

Woodbridge Villas, constructed in 2002, features a diverse mix of one-, two-, and three-bedroom units, averaging 875 square feet across 11 residential buildings. The property is situated on 10.5 acres and offers a range of amenities, including a resort-style swimming pool, fitness center, and outdoor spaces, catering to the needs of families and professionals alike. The acquisition was supported by low-leverage financing from Freddie Mac, structured to enhance cash flow and minimize refinance risk, which is particularly relevant in the current economic climate.

The strategic rationale behind this acquisition is underscored by the characteristics of the Sachse submarket. With a median household income of approximately $117,000 and a crime rate significantly lower than the Texas average, Sachse is viewed as an affluent and supply-constrained area. The limited forward supply of new developments—only one project currently under construction and none proposed within a seven-mile radius—further enhances the attractiveness of this investment. The combination of strong demographics and a favorable rent-versus-own affordability dynamic supports sustained occupancy and pricing power for Woodbridge Villas.

This acquisition represents the final investment from 37th Parallel's second fund, 37P – Fund II, which focuses on value-add and core-plus multifamily real estate in high-growth markets across the Southeast and Texas. With this transaction, the fund now includes diversified investments in cities such as Charlotte, Austin, Atlanta, and Dallas, reinforcing the firm's commitment to acquiring institutional-grade assets in areas with durable demand and constrained supply.

The broader implications of this acquisition highlight a continued interest in multifamily real estate investments, particularly in markets characterized by strong economic fundamentals and limited new supply. As market conditions evolve, firms like 37th Parallel Properties are likely to remain focused on disciplined capital allocation and strategic market selection to capitalize on growth opportunities in the multifamily sector.