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Dallas apartment foreclosure forces 239 residents to relocate or leave
The Baxter residents received a 30-day deadline after an April foreclosure sale transferred the five-property portfolio.
Residents of The Baxter, a 239-unit apartment complex in far northeast Dallas, have been told they must transfer to a sister property or vacate within 30 days following an April foreclosure sale, according to Yahoo Finance citing local reporting.
The Baxter was part of a five-property portfolio that had been sold by Oconee Real Estate Holdings after the prior owner, Fundamental Partners, defaulted on a $120 million loan. Oconee bought the portfolio for about $78 million, and tenants who do not move to The Bernard, another nearby complex under the same ownership, must leave within a month.
Yahoo Finance reports that the displacement adds to a broader wave of D-FW multifamily foreclosures tied to pressure from high interest rates affecting multifamily syndicators.
The story also notes ownership changes tied to earlier financing, including a May 2025 transfer of the portfolio to Pecos Housing Finance Corp. as part of a housing finance corporation arrangement, before the property later entered foreclosure.