CBRE Capital Markets Completes 241-Unit Community Sale in Fort Worth
- Mar 11, 2016
Fort Worth, Texas—CBRE Capital Markets’ Investment Properties recently announced the sale of a 241-unit multifamily community located in North Richland Hills, a Fort Worth suburb. EB Real Estate Group LLC is the new owner of the property, Courtyards on Glenview.
Located at 4401 Glenview Court, Courtyards on Glenview offers one-, two- and three-bedroom floorplans, according to Yardi Matrix. Community amenities include a fitness center, a business center, clubhouse, two swimming pools, laundry facilities and 450 parking spaces.
Rents at Courtyards on Glenview start as low as $740 for a 564-square-foot unit and go as high as $1,410 for a 1,467-square-foot unit. The complex was 93 percent occupied at the time of the sale.
Vice Presidents Chris Deuillet and Nita Stewart from CBRE’s Dallas office represented the seller in the transaction.
“Today, it’s very rare to find older multifamily assets like this one near new retail and shopping like Best Buy and LA Fitness and a destination mall. Due to its desirable location, rents have increased significantly at the property, yet the full rental potential has not been achieved. This is a quality asset with additional upside potential,” Deuillet said in prepared remarks.