Altus Equity Buys 2 in Texas
This marks the firm's ninth West Texas acquisition in a year.
Altus Equity Group has expanded its Texas portfolio with the acquisition of Bentwood and Bend at Bentwood Apartments, two adjacent communities in Lubbock, Texas, totaling 279 units. Mantle Finance Group was the seller, Yardi Matrix shows.
The buyer assumed the outstanding balance of a $10.7 million Fannie Mae acquisition loan with a 4.64 percent fixed interest rate, originated by Arbor Realty Trust in 2016, according to the same source. The 20-year note is set to mature in 2036.
The purchase of the two nearly fully occupied assets continues a streak for Altus, which bought eight multifamily properties across western Texas in 2025, including a 1,225-unit rental collection in Midland-Odessa.
Located at 3201 W. Loop 289, the Bentwood properties consist of 279 one- and two-bedroom units across 13 two-story buildings. Shared amenities include an outdoor pool, fitness center, community room and two laundry facilities, as well as some 450 grade-level parking spots, some of which are covered.
The communities sit between the 289 Loop to the west and the Lubbock Christian University to the east. The area right across the Loop includes a handful of retail options, such as the West End Center shopping mall, a Costco Wholesale and a Best Buy.
