VCT Capital Partners Sells 250-Unit Dallas Community
The new owner is planning interior and exterior enhancements on the property.
Villas at Chase Oaks. Image courtesy of Western Wealth Capital
Western Wealth Capital has acquired Villas at Chase Oaks Apartment Homes, a 250-unit community in Plano, Texas. The property last changed ownership in 2019, when VCT Capital Partners bought it from Guggenheim Investments for $29.4 million, Yardi Matrix data shows.
Spanning 14 acres, the 1986-built community encompasses 20 buildings with one-, two- and three-bedroom apartments, varying from 670 to 1,290 square feet. Community amenities include a fitness center, clubhouse, tennis, volleyball and basketball court, swimming pool and spa. The property will be part of WWC’s value-add program, which includes interior and exterior upgrades.
Located at 600 Legacy Drive, the community is within half a mile of numerous green areas, including John Clark Stadium, Enfield Park and Plano High Point Park. Various retail options, such as a Walmart Supercenter and 99 Ranch Market, are within a mile of the property. The DART Rail Station is 4 miles away, offering residents access to the Telecom Corridor, one of the major employment hubs in Dallas.
Dallas registered solid fundamentals, with a 17.7 percent annual rent growth in February, remaining a strong market for investors. The community marks WWC’s 20th acquisition in the market, with the firm’s portfolio now holding 72 properties and some 17,000 units. Recently, WWC acquired Tucson V, a portfolio totaling 880 units in Tucson, Ariz., for $130 million.
