
SemREF continues to seek properties built in 2017 or newer with 100 to 300 units, featuring best in class amenities, located in infill or core locations, and containing core multifamily assets. “By investing in apartments, the tribe is taking its first steps in diversifying its sources of revenue.” “Until now, the tribe’s sovereign wealth fund has received most of its revenue from casino properties, but after extensive research and deliberation, it was concluded that commercial real estate is the next advantageous, conservative opportunity for tribal investment,” the Seminole Tribune writes. “These markets feature high barriers to entry, strong employment, growing populations driven by an educated workforce, and strong anchor industries,” the fund said.Īs reported in The Seminole Tribune, SemREF “was created to bring generational wealth to the lives of tribal members.” The Seminole Tribune also notes that the demand for multifamily apartment rentals is on the rise, as millennials are delaying the purchase of single-family homes and older generations are downsizing to apartments to capitalize on increased property values. In total, the three properties owned by SemREF contain 534 units.Īccording to SemREF’s website, the fund’s strategy “is to invest in stabilized class A multifamily assets featuring best in class amenities located both in urban and suburban core markets around the United States.” The fund also currently owns a third property in North Carolina: Alton Optimist Park. One-bedroom apartments at the Hudson Dallas can currently cost up to $2,782 per month in rent, while three-bedroom apartments can cost as much as $5,550 monthly. Select homes feature private yards and walk-in showers. Apartments include soaking tubs, large balconies, ceiling fans, walk-in closets, granite countertops, and stainless-steel appliances. The building was designed with studio, one-, two-, and three-bedroom apartment homes featuring designer kitchens and contemporary finishes. The Hudson Dallas is a luxury building featuring 124 units and amenities including a fitness center, co-working lounge, elevated swimming pool and sun deck, spin cycling studio, a pet spa, and an outdoor entertainment kitchen with fire pits and a grill. Recently, SemREF further expanded its portfolio with the acquisition of a second Dallas property: the Hudson Apartments on McKinney Avenue. Dallas, TX - Last year, the Seminole Tribe of Florida launched its Seminole Real Estate Fund (SemREF) and acquired the first asset in its real estate portfolio-a 10 floor, 144-unit apartment building in Dallas.
