Weidner Apartment Homes Acquires Luxury Fort Worth Apartment Complex
FORT WORTH, Texas – In a significant real estate transaction, Weidner Apartment Homes, a Washington-based group, has successfully acquired the Monterra Village apartment complex in Fort Worth. The property, previously owned by Hillwood Multifamily, a subsidiary of Dallas-based Hillwood, consists of 550 units and is located in Alliance Town Center in far north Fort Worth. The deal was finalized on Dec. 18, although the exact purchase price remains undisclosed.
The Deal Details
Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware, Cameron Purse, and William Hubbard of Institutional Property Advisors played a key role in facilitating the transaction. According to Drew Kile, the executive managing director of Institutional Property Advisors, the acquisition of Monterra Village presents an exciting opportunity for Weidner to enhance the property through a comprehensive value-add program, focusing primarily on upgrading the apartment interiors. Property Overview
Spanning approximately 35 acres with a total rentable space of 541,854 square feet, Monterra Village offers a mix of one-, two-, and three-bedroom apartments and townhomes, with an average size of 985 square feet. The complex, developed in two phases, was initiated by Hillwood Multifamily in 2012 with the construction of the second phase. Strategic Location
Monterra Village is situated within the expansive 900-acre Alliance Town Center development, boasting a diverse mix of retail, restaurant, and office spaces totaling over 1 million square feet. Additionally, the area features two hospital campuses, the Federal Aviation Administration’s Southwest Regional Office, and convenient access to essential amenities like the nearby H-E-B grocery store, located just 1.7 miles away. Moreover, the complex is surrounded by the vast AllianceTexas master-planned development covering 27,000 acres. Expansion Plans
Following this acquisition, Weidner Apartment Homes has significantly augmented its portfolio, now comprising more than 6,100 apartment units across 11 states in the U.S., including Texas, Oklahoma, and Arizona. This expansion marks a strategic move by Weidner to strengthen its presence in key real estate markets and further solidify its position as a leading player in the industry.
Spanning approximately 35 acres with a total rentable space of 541,854 square feet, Monterra Village offers a mix of one-, two-, and three-bedroom apartments and townhomes, with an average size of 985 square feet. The complex, developed in two phases, was initiated by Hillwood Multifamily in 2012 with the construction of the second phase.
Strategic Location
Monterra Village is situated within the expansive 900-acre Alliance Town Center development, boasting a diverse mix of retail, restaurant, and office spaces totaling over 1 million square feet. Additionally, the area features two hospital campuses, the Federal Aviation Administration’s Southwest Regional Office, and convenient access to essential amenities like the nearby H-E-B grocery store, located just 1.7 miles away. Moreover, the complex is surrounded by the vast AllianceTexas master-planned development covering 27,000 acres. Expansion Plans
Following this acquisition, Weidner Apartment Homes has significantly augmented its portfolio, now comprising more than 6,100 apartment units across 11 states in the U.S., including Texas, Oklahoma, and Arizona. This expansion marks a strategic move by Weidner to strengthen its presence in key real estate markets and further solidify its position as a leading player in the industry.
Following this acquisition, Weidner Apartment Homes has significantly augmented its portfolio, now comprising more than 6,100 apartment units across 11 states in the U.S., including Texas, Oklahoma, and Arizona. This expansion marks a strategic move by Weidner to strengthen its presence in key real estate markets and further solidify its position as a leading player in the industry.
As we delve into the world of real estate acquisitions and property development, it’s fascinating to witness the intricate dance of negotiation, strategy, and vision that shapes the landscape of our cities. Each transaction tells a unique story of ambition, growth, and opportunity, reflecting the dynamic nature of the real estate sector. From the meticulous planning of value-add programs to the seamless integration of modern amenities, every decision made reverberates through the community, leaving a lasting impact on residents and investors alike.
What do you think about the recent surge in real estate acquisitions in your area? Have you ever observed the transformation of a familiar property into a thriving hub of activity and innovation? Share your thoughts and experiences as we continue to unravel the intriguing world of real estate ventures and the endless possibilities they hold for the future.