"It was a good time to sell Overlook Ranch, as the apartment market is strong and should continue to be healthy into the foreseeable future," said Terry Gwin, President of SWBC Real Estate. "Rents are up, vacancies are down, and population growth in north Texas continues to increase at a rapid pace. Texas is a hot market for multi-family properties with a lot of qualified buyers looking for good cash flowing properties. Additionally, the AllianceTexas corridor of north Fort Worth continues to add high paying jobs, which should help to keep the rental market within the area in high demand."
The property, located in the AllianceTexas corridor of north Fort Worth, is in close proximity to the recently announced $1 Billion Facebook Data Center. The complex, which was completed in July of 2015, was purchased by CAF Capital Partners.
"We have been looking for an acquisition opportunity in the Alliance area for some time," said Chris Faulkner, CEO of CAF Capital Partners. "We are thrilled with the quality and location of Overlook Ranch. Given the positive dynamics of the area, we will look for additional opportunities to acquire properties in the Alliance corridor."
Overlook Ranch is a Class A complex, consisting of 318 garden-style units. The tenants of the one-bedroom, two-bedroom, and three-bedroom units enjoy a Texas ranch-themed clubhouse with a fitness center, resort style pool, game room, and business center.
About SWBC Real Estate
SWBC Real Estate, LLC is owned by SWBC Enterprises, Ltd. SWBC Real Estate is managed by an experienced team of real estate professionals located in Dallas, Texas, with a primary focus in multi-family development. SWBC Enterprises, Ltd. is owned by Charlie Amato and Gary Dudley, co-founders of SWBC. SWBC is a diversified financial services company providing a wide range of insurance, mortgage, and investment services to financial institutions, businesses, and individuals. With more than 3,000 employees and offices across the country, SWBC is committed to providing quality products, outstanding service, and customized solutions in all 50 states. SWBC has been named one of the "100 Best Companies to Work for in Texas" in 2012, 2013, 2014, and 2015
Source: prnewswire
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