MIAMI, FL – Miami, Florida-based Atlantic | Pacific Companies (A|P), through its private equity fund, Blue Atlantic Partners II (BAPII), announces the purchase of Avana Point, a multifamily property in Fort Worth, TX. This acquisition marks A|P’s third purchase in Texas within the last 90 days on the heels of recent closings of The Atlantic Stonebriar and The Atlantic McKinney Ranch.
The property, which will immediately be renamed to The Atlantic Station, is A|P’s 13th owned and managed property in the Texas market and brings their total unit count in Texas to 4,271 units.
The Atlantic Station, a 324-unit property, offers one, two, and three-bedroom apartment homes with multiple community amenities. Located in the middle of the area’s hottest restaurants and shopping venues, these beautiful apartments are positioned near public transportation and major highways to make the daily commute as easy as possible.
A|P will be performing significant interior upgrades including granite countertops, new kitchen cabinets, backsplash, plank flooring and lighting enhancements. A variety of clubhouse and amenity improvements will also be performed.
“We’re extremely excited about our recent Fort Worth acquisitions,” remarked Mark Briggs, Chief Operating Officer at Atlantic | Pacific Real Estate Group (A|P REG). “With the addition of The Atlantic Station, our holdings in the greater Fort Worth area have grown to almost 900 units and complements our entire Texas portfolio of over 4,200 units.”
Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will handle all management responsibilities for both properties.
For more information about A | P Companies and its array of real estate services including development, property management, affordable housing, and construction, visit www.apcompanies.com