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TEXAS/SOUTHWEST NEWS
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332-Unit Texas Apartment Complex Sells

9/24/14

Ridgmar Square, a 24-building, 332-unit apartment property located in Fort Worth, TX, recently traded hands. The deal price was not disclosed.

Located at 2508 Ridgmar Blvd, Ridgmar Square is conveniently situated with frontage on Interstate 30, and is just 10 minutes west of downtown Fort Worth. This uniquely constructed property consists of large one- and two-bedroom floor plans featuring 10 different architectural styles from all over the world. Community amenities include two large pools, a clubhouse with a fitness center and secure access gates.

Al Silva, senior director of Marcus & Millichap’s National Multi Housing Group in Fort Worth, represented the seller, a private investor from Washington State. The buyer, a Texas-based investment group, was also secured by Silva.

“We generated a half-dozen offers during a four-week marketing process and the transaction closed within 75 days of agreement on terms,” says Silva. “The new owner plans to invest more than $3 mil in renovations that will substantially improve the product this property offers to the local rental market.”






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