DALLAS, TX - Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Remington Ridge, a 257-unit multifamily community consisting of two phases, located in Weatherford, Texas. The 133-unit Phase I was built in 2022, with construction already underway for an additional 124 units in Phase II.
Asher Hall and Grant Raymond of Cushman & Wakefield represented the seller, Trinity Capital Group, in the transaction. The buyer sponsor was Juniper Investment Group.
"Amidst the limited availability of core and core plus opportunities in the market, we observed a significant influx of potential buyers due to our strategic marketing efforts. The strong interest demonstrated by institutional and major private investors in multifamily properties in Texas, specifically in the Dallas-Fort Worth region, has led to active marketing engagement across our bid sheets,” said Raymond, Senior Director at Cushman & Wakefield.
Remington Ridge community amenities include a clubhouse with business center, game room, fitness center with yoga studio, outdoor lounge, outdoor grill area, saltwater pool, and dog park. Upscale kitchens feature quartz countertops, stainless steel appliances, tile backsplash, soft-close cabinets, and undermount sinks.
“The buyer acquired this core asset and benefits from the expansive growth of Fort Worth’s Westside corridor. Despite headwinds in the capital markets, capital continues to have extreme confidence in core multifamily assets in growth markets throughout Dallas-Fort Worth,” added Hall, Senior Director at Cushman & Wakefield.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 95-person investment sales team covering 11 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2023, the group closed $5 billion in sales volume through 151 deals and 26,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com