Moses Tucker Partners of Little Rock and Equity Partnership Holdings LLC of Denver, Colorado, announced the $52.5 million joint acquisition of a 276-unit apartment complex in Fort Worth, Texas.
The seller was SPI Advisory LLC of Dallas, a real estate investment firm that acquired the property in 2019.
Northpoint Villas is the second multifamily property in the Dallas-Fort Worth market jointly acquired by Moses Tucker Partners and Equity Partnership Holdings. In a news release, the companies said further acquisitions are anticipated in 2024 and 2025, “underscoring the partners’ commitment to growth and strengthening their foothold in one of the nation’s most vibrant real estate landscapes.”
“The DFW Metroplex provides an exceptional foundation for our firm’s strategic expansion as it continues to lead the nation in population growth and economic strength,” Chris Moses, principal, president & CEO of Moses Tucker Partners, said in a statement.
Northpoint Villas was built in 2009. According to the release, “significant enhancements” are scheduled for the property, including fresh exterior paint, new roofing, upgraded outdoor amenities, and a major renovation of the clubhouse, which will soon feature a unique indoor-outdoor community space, alongside modernized fitness and common areas.
Valiant Residential will be retained as the property management firm for the complex.
Moses Tucker Partners has about 11.6 million square feet of commercial space under management.
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