Source: SBV Communities / #Apartments #Multifamily
KANSAS CITY, MO - SBV Communities today announced its purchase of 211-unit Bear Creek Apartments in Euless, Texas. The acquisition is the second purchase this week for the owner and operator of multi-family apartment complexes and marks the continued expansion of its portfolio. SBV Communities executed the purchase and sale agreement on July 8th and closed the transaction on September 6th, adding a 14th market to its portfolio. This purchase was facilitated by Auction.com, the online real estate platform which has handled more than 300 Commercial REO transactions since 2011.
Dallas/Ft. Worth, the 4th largest market in the country, is home to the global headquarters of 20 Fortune 500 companies. Bear Creek's location in Euless Texas – centrally located between Dallas and Ft. Worth – is an ideal housing community for a vast and expanding workforce. Its proximity to Dallas/Ft. Worth International Airport strengthens its economic position as a natural employment base for companies serving the airline industry, such as LSG Sky Chefs, Inc. and others.
"Dallas is the most important city in the fastest growing state in the country. There is little mystery as to why it attracts so much investment interest. Acquiring well-positioned assets in a growth market clearly supports our investment directive of adding properties with long-term value and growth potential to our portfolio" stated Chris Thomson, Director of Multi-Family Acquisitions
SBV Communities was formed in 2009 to acquire and manage multi-family real estate properties. The company builds long-term value for investors by focusing on lender-owned, B & C properties with strong value-add potential. SBV Communities' portfolio includes assets in fourteen markets.