Vertical Street Ventures, Invest in Multifamily and Limitless Estates added the 252-unit Garden Park Apartments in Arlington, Texas, to their collective portfolio. The seller was InvestRes.
Built in 1968, the community was partially renovated in 2020 and encompasses one- and two-bedroom units as well as townhouses, ranging from 589 to 1,065 square feet, Yardi Matrix data shows. Amenities include a pool, a playground, large patios, a barbecue area and an outdoor yoga space.
Located at 1609 Sherry Street, Garden Park is less than 1 mile east of Park Plaza Shopping Center. AT&T Stadium, Arlington Convention Center and downtown Arlington are all some 3 miles northwest.
The joint venture owns more than 1,000 rental units worth over $130 million across Texas and Arizona, Garden Park being their fourth asset. With the Dallas-Fort Worth multifamily market burgeoning, the venture is looking to further improve and upgrade the property, Steven Louie, managing partner of Vertical Street Ventures, said in prepared remarks.