Fort Worth Multifamily Property Changes Hands
CAF Capital Partners bought Hidden Lakes Apartments, a 312-unit, value-add multifamily community in Fort Worth, from Beachwold Residential.
“The new owner will be able to reach a sweet spot in the market with upgraded units as Class-A properties closer to Downtown Fort Worth garner significantly higher rents, leaving a space in the market for quality, modern apartments at a mid-level price point,” Institutional Property Advisors associate Joey Tumminello said in a statement.
Tuminello, IPA Executive Director Will Balthrope and IPA Senior Director Drew Kile represented Beachwold. IPA’s team also secured the buyer.
“Hidden Lakes is located near major transportation arteries that have recently undergone major expansions, and the improved connectivity will drive rapid growth as the major job centers of Alliance to the north and Downtown Fort Worth to the south are now more easily accessible to residents,” Kile said in a statement.
