GRAND PRAIRIE, TX – Miami, Florida-based Atlantic | Pacific Companies (A|P) is pleased to announce the acquisition of 2803 Riverside Apartments in Grand Prairie, TX. The property marks A|P’s third acquisition within the company’s third private equity fund, Blue Atlantic Partners Fund III (BAP III).
2803 Riverside is a strategically located luxury apartment community that is equidistant between Dallas and Fort Worth. The property enjoys quick access to both the President George Bush Turnpike and the newly expanded State Highway 360. Additionally, the community is near some of the region’s largest employers including American Airlines, General Motors, Lockheed Martin, and Bell Helicopter.
The 436-unit, garden-style residential property offers a mix of one, two, and three-bedroom floorplans ranging from 722 to 1,454 square feet and including 168 direct-access garages. The community has amenities such as two resort-style pools, waterfront views, a dog park, playground, outdoor game lounge, and access to biking and jogging trails. Atlantic | Pacific Management (A|P Management), the property leasing & management platform under A|P, will perform all property management responsibilities. A|P plans a multi-million dollar renovation program at the property including unit upgrades with quartz countertops, amenity enhancements, exterior improvements, among many others.
“2803 Riverside is a fantastic addition to our growing Dallas-Fort Worth portfolio,” remarked Brett Duke, Senior Managing Director at Atlantic I Pacific Real Estate Group. “This acquisition continues our strategy of purchasing exceptional properties in growing markets at compelling prices,” he concluded.
With this acquisition, A|P now has nine properties in Dallas-Fort Worth, totaling just under 3,500 units.
For more information about A | P Companies and its array of real estate services including property management, investment management, development, and construction, visit www.apcompanies.com or call 800.918.1145. Follow A|P on Facebook (@AtlanticPacificCompanies), Instagram (@APCompanies) and Twitter (@APCompanies).