The Opportunity

The Kirby Apartments presents a rare value-add opportunity to acquire one of Downtown Dallas’ most distinctive and historically significant, well-located multifamily assets. Originally built in 1913 with Gothic Revival design, the Property offers an irreplaceable combination of iconic architecture, and authentic urban loft-style living that cannot be replicated. Approximately half of the unit interiors have been renovated by current ownership, offering further revenue upside through continued unit upgrades. Since 2016, current ownership has completed significant capital upgrades, including upgrades to the boiler, replacement of the cooling towers, replacement of the rooftop and pool deck, modernized penthouse and garage elevators and installation of ButterflyMX entry system. The Kirby Apartments features 13,492 SF of ground-floor retail that is 100% leased, enhancing the resident experience and also generates additional ancillary income through two electronic billboards affixed to the building.

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BUILT:1913
Converted:1999
Latest Renovation:2023

Total Units

157

Average Unit Size

844 SF

Total Residential Rentable SF

132,563 SF

Total Retail
Rentable SF

13,492 SF

Garage Parking

217 (elevator accessed parking garage)

Parking Ratio

1.38 per unit / 1.15 per bedroom

INVESTMENT HIGHLIGHTS

Historic Architecturally Significant Building in Prime Downtown Location
The 17-story historic high-rise pioneered Downtown Dallas adaptive reuse as the city’s first office-to-apartment conversion in 1999.

Iconic Historic Asset with Modern Loft Renovations
The residences showcase an authentic loft aesthetic rooted in the building’s 1913 heritage, featuring original hardwood floors, exposed brick, 9-foot to 20-foot ceilings, visible ductwork. There is assigned elevator accessed garage parking, washer and dryers in select units, and expansive city and skyline views. Current ownership has invested over $5 million to renovate The Kirby’s building systems, amenity spaces and approximately half of the unit interiors from 2016 to 2023.

Continued Revitalization of the Downtown Urban Core
Over the past two decades, Downtown Dallas has transformed into a vibrant 24-hour urban core, fueled by more than $400 million in public incentives that catalyzed over $5.4 billion in private investment, driving adaptive reuse, new development, and major placemaking improvements.

Live, Work, Play Downtown Dallas Location
Positioned on one of Downtown Dallas’s most desirable corners, The Kirby offers a premier walkable location with a 96 Walk Score and immediate access to the city’s primary employment center.

Proximity to Major Employment Drivers
The Kirby benefits from direct access to Dallas’ largest and fastest‑growing job hubs, supporting strong renter demand

Contact

Investment Sales

Greg Smith
Senior Managing Director
817.313.7081
[email protected]

Paul Harris
Senior Managing Director
972.764.8490
[email protected]

Caleb Jones
Senior Director
972.458.7355
[email protected]

Thad Wetterau
Senior Director
972.754.5420
[email protected]

Mortgage Banking

Bob Falese
Senior Managing Director
215.328.1321
[email protected]

Jake Adoni
Director
215.328.1324
[email protected]

TJ Piper
Director
215.328.3219
[email protected]

Office

Dallas Office
5960 Berkshire Lane, Suite 1000
Dallas, TX 75225
214.346.0200

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1509 Main St | Dallas, TX 75201

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