Southwest Montana Properties, LLC Closes 80-Unit Apartment Community in River Oaks, Texas

On November 28, 2014 by Phil Champagne

 

Southwest Montana Properties, LLC Closes 80-Unit Apartment Community in River Oaks, Texas

Fort Worth, Texas., October 28, 2014 /Newswire/ — Southwest Montana Properties LLC has expanded its holdings in the vibrant Texas multifamily market with the acquisition of River Ranch Apartments, an 80 unit, class B multifamily property built in 1985 and located in the heart of Fort Worth in the Dallas / Fort Worth metroplex. The property has undergone recent renovations and boasts market-leading upgraded interiors with fashionable and durable faux wood flooring, air conditioning, an on-site leasing office which incorporates a model unit, a clothing care center, and attractive 1 & 2 bedroom floor plans. River Ranch is ideally located across the street from a newly-built 450 student elementary school in a neighborhood setting with convenient access to nearby employment and retail centers via easily accessible primary roads.

Southwest Montana Properties worked with Randy Aaron and Danny Cremeens at Fidelity Bank in Burkburnett, TX to arrange debt financing for the purchase. Jakob Andersen with ARA’s Dallas office represented the seller while Mark Miller of Braaksma & Miller, PLLC represented Southwest Montana Properties. John Redden and his team at Devonshire Real Estate & Asset Management will lead management operations at the property.

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Chad Laird, Managing Director at Southwest Montana Properties, comments, “We are pleased to advance our focused effort on acquiring under-valued, stabilized assets in strategic Texas markets with the acquisition of River Ranch. This is a solid asset in a submarket with high apartment occupancy and limited new supply. We expect River Ranch to continue to benefit from strong demand for a central living option priced lower than many multifamily communities in nearby submarkets.”

Brad Osen, Acquisition Manager at Southwest Montana Properties, adds, “River Ranch benefits from its position in the market – an attractive property in an established neighborhood with limited nearby competition and convenient access to large employment centers. The property’s location, when combined with its leading interior upgrades, will allow us to capitalize on the continued growth and investment environment of the greater DFW market.”

Mr. Laird continues, “The Dallas / Fort Worth metroplex continues to lead the nation in multifamily fundamentals with historically high occupancy rates and increasing rental rates, positioning this acquisition to be a consistent performer for our investor community which continues to seek portfolio diversification into investments backed by hard assets.”

About Southwest Montana Properties, LLC: Southwest Montana Properties, LLC (http://www.southwestmontanaproperties.com) specializes in multifamily real estate investment in emerging markets throughout the United States, sourcing stabilized, value-add apartment properties located in stable sub-markets which are poised for growth. These properties are aggressively repositioned to effect: 1) Revenue maximization through targeted capital improvement; 2) Cost containment through the implementation of institutional asset & property management best practices. Southwest Montana Properties strategically targets exit from dramatically appreciated assets timed to coincide with an optimal position in the local market cycle. Hold windows average five to ten years. If you’d like to schedule an interview with one of the Southwest Montana Properties team, please call Chad Laird (406-582-7853) or e-mail at chadlaird@southwestmontanaproperties.com

About Wren Investment Group, LLC: Wren Investment Group LLC (http://WrenInvesment.com) is an affiliate to Southwest Montana Properties, LLC and is based in Raleigh NC. Wren Investment Group invest in multifamily real estate investment in favorable markets in the United States. Wren Investment Group, LLC also provides input to its investors on various topics, including macro economic cycles. If you want to learn more, contact us (http://wreninvestment.com/contact-us/)

SOURCE Southwest Montana Properties, LLC

 

 

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