Dominium Acquires Hickory Ranch

May 9, 2012 – Dominium today announced the acquisition of Hickory Ranch in Dallas, Texas.

Built in 1984, the 192 unit housing complex is the latest in a string of acquisitions by Dominium in Texas. This brings the total number of units owned or managed by Dominium to more than 2,500 units throughout the state.

Dominium will be making significant improvements to the property, including completely renovating the club house and adding a fitness center. Dominium will also complete a total renovation of 12 of the units, and will add washers and dryers to the apartments.

The property will undergo significant external renovations as well, including new roofs, new patios, new exterior paint, replacement of gutters and downspouts, new brick siding and the addition of landscaping to enhance the curb appeal. Upgrades also include repairs to the building foundation and to the swimming pool.

“The acquisition by Dominium will substantially improve the quality of life at Hickory Ranch, with improved property amenities and increased security for families and children in the community," said Mark Sween, vice president and project partner for Dominium. “This complex reflects Dominium's optimistic outlook in the Texas multifamily market and its commitment to add quality, affordable apartments to its growing Texas portfolio.”