A Miami investment group has purchased a North Dallas apartment property.

Investor Advenir acquired the Foxmoor apartments at the southwest corner of North Central Expressway and Stone Canyon Road.

The 11-acre property was sold by Warmington Capital of California.

“The location is a great future re-development site,” said Will Bathrope with Marcus & Millichap who handled the sale.

“Currently this is a stable pocket of apartment communities, in which two others have traded hands in the past six months.”

Mr. Bathrope said Advenir has purchased four comparable properties in the Dallas area in the past tow years.

“We generated great interest in the asset, with 15 offers delivered after a 30-day marketing period,” said Mr. Balthrope, who negotiated the sale with the help of Tommy Lovell III and Joe James.