Outside the Region: HLC Equity purchases 336-unit class A complex in Fort Worth for $39.5 million

Fort Worth, TX HLC Equity completed the purchase of Republic Deer Creek Apartments, a 336-unit, class A, multifamily community.

HLC Equity utilized a $25.2 million agency loan originated by Bellwether Enterprise and Maverick Commercial Properties under Freddie Mac program for the purchase of Republic Deer Creek. 

According to HLC Equity, Republic Deer Creek, which was constructed in 2012, is located near commercial and office developments occurring at Everman Parkway, within close proximity to the burgeoning Burleson neighborhood, and south of the Fort Worth CBD, benefiting from organic market growth in one of the nation’s leading investment markets. It is situated close to Interstate 35W, providing direct access to some of the largest employment hubs, retail and entertainment venues in the surrounding area.

In line with HLC Equity’s strategy of purchasing community-oriented properties, Republic Deer Creek is richly amenitized with a resident business center, resort style swimming pool with expansive tanning ledges, poolside gazebo with BBQ grill, sand volleyball court, state-of-the-art fitness center, upscale clubhouse, billiards table, resident lounge with a coffee bar, dog park and playground, as well as garages and covered parking.

“We are excited to continue expanding our footprint in the DFW metroplex, which has become one of the most desirable cities in the USA from a quality of life perspective” said Daniel Farber, principal at HLC Equity.

The property will be managed by HLC Equity’s management division, which intends to further increase value at this high-quality asset by providing residents with certain unit upgrade options, while integrating complimentary innovative technologies and processes to enhance resident satisfaction. “This property is a great match for HLC Equity’s portfolio, providing operational efficiencies for our management team, and ultimately better serves our residents,” said David Molitor, head of operations at HLC Equity.