GRAPEVINE, TX - The Praedium Group, a New York City-based national real estate investment firm, announced the acquisition of Terrawood in Grapevine, TX. Peter Calatozzo, Managing Director of The Praedium Group, made the announcement of the investment firm's most recent acquisition.
Built in 2010, Terrawood consists of 291 units comprised of one-, two-, and three-bedroom units ranging in size from 701 square feet to 1,455 square feet. Unit interiors feature expansive 10' ceilings, granite countertops, hand-scraped wood floors, stainless steel Energy Star appliances, side-by-side refrigerators with water and ice dispensers, kitchen islands with undermount sinks, 2-inch blinds, full-size Whirlpool washer & dryers, walk-in closets with wood shelving, oval soaking tubs, gourmet islands with pendant lighting, spacious balconies, and accent walls. Community amenities include a glass encased conference center, fitness center with premium cardio and free weights, private bark park, salt water pool, outdoor seating and kitchen area, and a splash fountain.
Terrawood is located in Grapevine, a highly desirable Dallas-Fort Worth suburb with one of the top ranked school districts in Texas. "The Property boasts strong demographics and is situated amongst one of suburban North Dallas'highest-end single family residential neighborhoods; a submarket with high barriers to entry that has seen few deliveries since 2010 and has limited projected supply," added Calatozzo.
"The Dallas-Forth Worth market continues to demonstrate some of the strongest population growth in the U.S., and this Property will benefit from the robust employment growth which has occurred across North Dallas and is projected to continue for some time," noted Kelsey Durels, Associate of the Praedium Group.