SOURCE: Lincoln Property Company

Lincoln Property Company

November 13, 2015 05:00 ET

Commodore Partners Breaks Ground on The Mark at Midtown Park

DALLAS, TX--(Marketwired - Nov 13, 2015) - Commodore Partners Ltd, a private equity firm owned by the Carl Westcott family, held a groundbreaking ceremony yesterday for The Mark at Midtown Park, a 274 unit luxury apartment community located on the east side of N. Central Expressway, just north of Meadow Road. A Ford dealership on the site was demolished in 2008 and the property was rezoned to allow multifamily in 2013.

The Mark is targeted at the North Dallas submarket, which has seen a renaissance in office and retail but relatively little multifamily activity. Swayze Smartt, President at Commodore Development LLC notes, "If you look at the rental product available in the area, most of it is over 20 years old. The Shops at Park Lane and Preston Hollow Village have shown there is strong demand for upscale shopping, dining, and entertainment in the North Central Expressway corridor. The Mark at Midtown Park is a natural next step."

The project will include one, two, and three bedroom floorplans featuring quartz countertops, stainless steel appliances, 9-foot ceilings, and steam showers. Property amenities include a resort-style pool with outdoor TV lounge, state-of-the-art fitness center, contemporary clubhouse, 24 hour package delivery lockers, dog wash station, and bark park.

The Mark will be managed by Lincoln Property Company, the nation's second largest multifamily manager, with over 50 years of experience in the industry. Mychelle Burns, Lincoln's Regional Marketing Director stated, "We are excited to be able offer a new product in North Dallas that has high end finishes and amenities that aren't available in existing properties in the area. We're confident that The Mark will offer a truly unique living experience for residents."

The Mark will open its doors to residents in early 2017.

The complete project team includes:
Developer: Commodore Partners, Ltd.
General Contractor: Balfour Beatty Construction
Property Manager: Lincoln Property Company
Architect: BGO Architects
Civil Engineer: Kimley-Horn and Associates
Interior Design: Faulkner Design Group

About Commodore Partners Ltd
Commodore Partners is a Dallas, Texas based private equity company owned by the Carl Westcott family. Commodore invests in venture capital, commercial real estate, and public securities.

About Lincoln Property Company
Headquartered in Dallas, TX, Lincoln focuses on real estate investment, construction and development, in addition to property management. Their national reputation has enabled Lincoln to attract a large client base of owners and investors who count on their ability to deliver quality results and continually serve as a market leader. For more information about Lincoln Property Company, please visit http://www.lincolnapts.com/management-services.

About Balfour Beatty Construction US
An industry leader for more than 80 years, Balfour Beatty Construction US provides general contracting, at-risk construction management, and design-build services for a wide variety of markets, serving clients in both the public and private sectors. The company is the U.S. subsidiary of London-based Balfour Beatty plc (LSE: BBY), a leading international infrastructure group that finances, develops, builds and maintains complex building programs focused on social and commercial buildings, power and utility systems, and transportation. Consistently ranked among the nation's largest building contractors, Balfour Beatty Construction Services US has been cited as a Top 10 Domestic Building Contractor and Top 10 Green Builder by Engineering News-Record. To learn more, visit www.balfourbeattyus.com or look for BalfourBeattyUS on Facebook, Twitter, and LinkedIn

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