Silverado / Noel Partners Acquires 321-Unit Luxury Apartment Community Outside Dallas-Fort Worth Metroplex for $45.5 Million

Silverado / Noel Partners Acquires 321-Unit Luxury Apartment Community Outside Dallas-Fort Worth Metroplex for $45.5 Million

DALLAS, TX – Silverado / Noel Partners announced the acquisition of Station 3700, a 321-unit, luxury apartment community in Euless, Texas between Dallas and Fort Worth. The property, completed in 2000 and recently renovated in 2015, was purchased for a total cost of 45.5 million-dollars. Station 3700 is comprised of multiple three-story buildings, which were built inside of a gated community setting with high-end amenities and a convenient location in mind.

Station 3700 offers six distinct floor plans with an impressive selection of one, two, and three-bedroom apartments. Residents can currently enjoy a generous suite of amenities, such as large closets, plush carpeting, and a private patio or balcony. Certain homes also include garden jacuzzi tubs, built-in computer desks and bookshelves, and crown molding. Every apartment is designed to allow one’s personal style to shine through with fashionable touches and customizable options that set the gold standard of contemporary apartment living.

The gated community also boasts two sparkling swimming pools, fitness and business centers, a clubhouse with a cybercafé, and an outdoor covered patio area with views of the community’s lush, green grounds. Residents can take advantage of many other perks, like package receiving, short term leasing, close proximity to the TRE Station, and even a Spanish speaking staff. Through all of these features and services, Station 3700 works diligently to take special care of resident needs with sophisticated luxury and modern style that go hand-in-hand.

"We are excited to expand our footprint with the acquisition of Station 3700. This highly attractive area in a prime market provides our residents with unparalleled accessibility to major employers, retailers, nationally ranked schools, key regional suburbs, and of course, the DFW Metro Area at-large. We are very enthusiastic about the planned improvements to the community and projected return on our investment,” stated Lenny Licht, Managing Partner for Silverado / Noel Partners.

The community will be managed by Noel Management Company, which has come to be synonymous with smart acquisitions with stringent criteria that ensure the success of their partners and clients. The community will undergo an extensive renovation throughout the entire grounds. Although planned upgrades haven’t been officially released, the community intends to address the exterior building, individual apartment homes, and community-wide amenity spaces.

Stephanie Allen, Vice President of Operations for Noel Management Company, stated, “Station 3700 takes pride in its central location and seamless access to excellent schools, renowned restaurants, and convenient shopping. As a pet-friendly community, we’re also excited about our planned installation of two dog parks to accommodate our residents’ furry friends.  Along with an excellent location and desirable offerings, the spacious units, top-notch amenities, and thoughtful features make Station 3700 well-suited for today's home-centered lifestyle."

Forming one of the Mid-Cities of the Dallas/Fort Worth Metropolitan Area, Euless is a suburb of Fort Worth, which lies approximately 20 miles to the west of the city. Known as Tree City USA, the citizens of Euless are proud to call its peaceful setting and many family-friendly neighborhoods home. The Stonewood/Stonecreek neighborhood, where you’ll find Station 3700 specifically, is a fine example of the type of living found in Euless, Texas. With an attractive location that gives residents the best of both worlds, Station 3700 has undoubtedly become a rising star on the DFW multifamily real estate horizon.

Source: Silverado / Noel Partners

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