Tom Burns

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  recenter.tamu.edu/recon/RECON.asp?Date=5/12/2009 - [Cached Version]
  Published on: 5/12/2009    Last Visited: 5/12/2009  

  According to Tom Burns, associate partner with Hendricks & Partners' Dallas office, which represented the buyer in the transaction, the complex was about 47 percent occupied when the previous owners foreclosed in December.

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  www.globest.com/news/1408_1408/dallas/178602-1.html - [Cached Version]
  Published on: 5/11/2009    Last Visited: 5/19/2009  

  "Woodbridge was about 47% occupied when the former owners foreclosed in December," says Tom Burns, associate partner with Hendricks & Partners' Dallas office.

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  www.globest.com/news/994_994/dallas/164094-1.html - [Cached Version]
  Published on: 9/18/2007    Last Visited: 9/19/2007  

  "Don was a competitor of mine, but he was a great guy and a kind man who was loved and who will be missed by those of us in the multifamily industry," says Tom Burns, associate partner in Dallas for Phoenix-based Hendricks & Partners.

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  www.globest.com/news/996_996/dallas/164176-1.html - [Cached Version]
  Published on: 9/19/2006    Last Visited: 9/20/2007  

  Hendricks & Partners' Dallas team of associate partner Tom Burns and senior investment adviser Jay Gunn facilitated the sale of the 1834 E. Peters Colony Rd. complex.
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  Burns says Dawntree's potential surfaced during the review for Edentree, which showed the larger complex was ringing up below-market rents.The buyer's upgrade plan includes making Dawntree's Josey Lane entrance as prominent as the one along East Peters Colony Road.Exterior and interior work will begin in a couple months, according to Burns.

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  www.globest.com/news/1308_1308/dallas/175816-1.html - [Cached Version]
  Published on: 12/15/2008    Last Visited: 12/17/2008  

  Seller representative Tom Burns, associate partner with Hendricks & Partners' Dallas office says MC Cos.' plan is to upgrade the units and take them to market rents. Upon renovation, rent on the apartments 5401 Independence Pkwy. could increase anywhere from $.10 to $12 per square foot, Burns says.

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  recenter.tamu.edu/mnews/newssearch.asp?MODE=MNEWS&CID=4 - [Cached Version]
  Published on: 12/16/2008    Last Visited: 12/16/2008  

  Tom Burns, associate partner with Hendricks & Partners' Dallas office, said MC Cos. plans to upgrade the units and take them to market rents.

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  www.globest.com/news/1245_1245/dallas/173822-1.html - [Cached Version]
  Published on: 9/16/2008    Last Visited: 9/16/2008  

  The 10-building complex, positioned on 5.7 acres at 2121 Washington Circle, was sold by the Bank of New York Trust Co. of New Albany, OH after searching nearly five months for a buyer on the conventional circuit, according to Thomas Burns, associate partner in Dallas for Phoenix-based Hendricks & Partners.He tells GlobeSt.com that the buyer, MLG Capital 2008 LLC, made a $50,000 non-refundable commitment to show up at the sheriff's sale on the Tarrant County Courthouse steps.
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  Burns says the take-over puts an in-house leasing and management team on the ground for the new owner.
  
  "There is significant upside in rents by repositioning the property," Burns says."It needs a huge infusion of capital to bring it up."He estimates $5,000 to $6,000 will be put to work for the value-add play.

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  www.rebusinessonline.com/news_archive/2006/July/07-21-0 - [Cached Version]
  Published on: 7/21/2006    Last Visited: 11/4/2007  

  Peter Hartnett, Tom Warren and Tom Burns of Hendricks & Partners' Dallas office handled the sale.

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  www.hpapts.com/index.cfm?s=art&id=540 - [Cached Version]
  Published on: 2/20/2007    Last Visited: 4/9/2007  

  In both cases, the buyers paid "within striking distance of the asking price," says Tom Burns, associate partner with Hendricks & Partners in Dallas.And both California buyers, he says, are planning holds with three- to five-year horizons.
  
  The class B Southern Hills picked up a dozen offers during a four-month run on the market, with the highest coming from American Redevelopment Group LLC of the Los Angeles area, which assumed an $8.56-million Freddie Mac loan to win the deal, Burns tells GlobeSt.com.The floating-rate financing bears a 5.65% lifetime cap on the interest, maturing in July 2011.The seller was Domain Communities LLC of Phoenix.
  
  Burns says Southern Hills' new owner will put $300,000 into upgrades of the 27-building complex, built in 1984 on 20.2 acres near US Highway 360 in North Arlington.The mix of one-, two- and three-bedroom units rents for $549 to $1,075 per month.The apartments range from 718 sf to 1,488 sf.The sale traded at a 6.1% cap rate, according to Burns, who teamed with Hendricks' adviser Jay Gunn on the asset sale.
  
  The class C Runningbrook was bought by Calypso Communities from Arcap Special Servicing Inc. in Irving, TX, which had nine offers to weigh after a three-month marketing."Runningbrook has to be repositioned more so than Southern Hills," Burns explains."This was a group that we felt could get the deal done."
  
  The new owner is taking on repairs of a burned two-story structure in the 21-building Runningbrook, built in 1983 on 10.2 acres about five miles south of Southern Hills.Runningbrook's apartments, ranging from 414 sf to 1,150 sf, are renting for $350 to $522 per month or on average, $40 per month below the market, says Burns, who teamed with Hendricks' executive Tom Warren on the deal.

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  www.hpapts.com/index.cfm?s=art&id=536 - [Cached Version]
  Published on: 1/8/2007    Last Visited: 4/9/2007  

  "The current sale achieved a price that was one of the leading sale prices in the submarket for this vintage of product," Tom Burns, associate partner for Hendricks & Partners in Dallas, tells GlobeSt.com.Confidentiality agreements have the final price under lock and key for the class B-minus property at 2346 N. MacArthur Blvd., but the deal included a $23.5-million loan assumption from Bank of America.There were four years left on the loan term, which bears a 5.69% fixed-rate interest.
  
  Burns, teaming with Hendricks' senior investment adviser Jay Gunn, had six offers from would-be buyers in Arizona, California and Michigan after the listing hit the streets.
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  Burns says the highest offer came from TIC players: BH Regal Parc LLC and HB Regal Parc LLC, represented by Bruce Patel of Dabu Hospitality Inc. of Irving.

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