Fort Worth Community Selects New Management
- Feb 26, 2018
One Real Estate Investment has chosen Allied Orion Group to handle management at the firm’s market-rate community in Fort Worth, Texas. The owner acquired the 224-unit Summit at Landry Way from Lloyd Jones Capital in mid-2017 for $14.3 million, funded by a $10.7 million Fannie Mae mortgage, according to Yardi Matrix. Prior to the appointment of Allied Orion, Finlay Management oversaw operations of the property.
Located at 7412 Ederville Road, the garden community’s 12-acre parcel is situated southeast of the Tom Landry Freeway and Interstate 820 interchange, allowing for convenient access throughout Dallas, Fort Worth and the wider region. Eastchase Market, a 420,023-square-foot outdoor shopping center, sits two miles east. The Fort Worth Transportation Authority operates a bus route alongside the asset, providing access into the city.
The property’s 27 two-story buildings, constructed in 1978, feature a mix of newly updated studio, one-, two- and three-bedroom apartments, ranging in size from 510 to 1,312 square feet. Community amenities include two laundry facilities, an outdoor swimming pool, a basketball court and a tennis court. Approximately 500 parking spaces are additionally available for resident use.
Image courtesy of Allied Orion Group