Le Lézard
Classified in: Business
Subject: RLE

Civitas Capital Group Acquires 312-unit, Garden-style Apartment Complex In East Fort Worth


FORT WORTH, Texas, Nov. 30, 2021 /PRNewswire/ -- Civitas Capital Group, a Dallas-based global alternative investment manager offering niche opportunities in U.S. real estate, has acquired Rocco Apartments, a 312-unit, garden-style apartment complex in burgeoning East Fort Worth.

"Value-add multifamily acquisition [is] a winning strategy for Civitas," says Investments Director Rootvik Patel

"Value-add multifamily acquisition continues to be a winning strategy for Civitas," says Rootvik Patel, Investments Director for Civitas, who led the transaction along with colleague Chandler Kyser. "Renovating multifamily properties such as Rocco is a win-win for tenants current and future. Civitas works to improve the communities in which we live and work, so the opportunity to update a property in a burgeoning market within our home in North Texas is exciting."

Located off I-30 near off Eastchase Parkway just east of Fort Worth, Texas, the property, built in 1984, sits just 16 minutes from downtown Fort Worth ? and only 26 minutes from downtown Dallas. East Fort Worth has been a direct beneficiary of the rapid economic expansion of the DFW metro area over the past few years. Notable development projects in the area include the GM Motors Arlington Assembly Plant, as well as the $4 billion master planned Texas Live! Development.

Rocco Apartments, which closed November 5, is the fourth multifamily property Civitas has acquired since this summer.

"Rocco Apartments is another good example of our multifamily value-add acquisition strategy," says Jonathan Kern, President and Chief Investment Officer at Civitas. "Many of the investments in multifamily we've made the past few years, and which we will continue to make, are indicative of our focus on attainable housing, which is in increasingly short supply. This is especially true in North Texas, one of the fastest-growing regions in the country."

ABOUT CIVITAS CAPITAL GROUP
Civitas Capital Group is a global alternative investment manager, founded in 2009, offering compelling, niche opportunities in U.S. real estate. Civitas exists to create opportunities that enrich our communities, investors, and employees alike.?Driven by relentless creativity, Civitas digs deeper to uncover opportunities that others miss. Follow Civitas Capital Group on LinkedIn. Learn more at civitascapital.com.

 

SOURCE Civitas Capital Group


These press releases may also interest you

at 21:00
HSA Group, Yemen ('HSA'), Yemen's largest and leading private company and part of HSA, has today announced its certification as a Top Employer 2022 by the Top Employers Institute, in recognition of its commitment to people development, employee...

at 21:00
The latest elevator and escalator market research report in India by Technavio infers that the growth in the global industrial machinery market is driving this market's growth....

at 20:17
Mr. Jeffrey Silver, Esq., Executive Vice President and General Counsel, Applied Underwriters, today issued the following statement in response to lawsuits filed by Australian insurer QBE against four Applied employees, formerly among QBE's 11,000...

at 20:00
International express logistics company J&T Express celebrated its second anniversary in Singapore on 9th January 2022, recording two years of exponential growth and progress, including a year-on-year double digit growth for parcel volumes, and an...

at 19:56
TSX VENTURE COMPANIES GOLDHILLS HOLDING LTD. ("GHL")BULLETIN TYPE: Resume Trading, Reviewable Transaction-AnnouncedBULLETIN DATE: January 19, 2022TSX Venture Tier 2 Company Further to the Exchange bulletin of June 30, 2021, effective at the open,...

at 19:30
Roadman Investments Corp. ("Roadman Investments'' or the "Company") a Canadian Venture Capital and Advisory Firm,  announces that it will be consolidating all of the issued and outstanding common shares of the Company ("Common Shares") on the...



News published on 30 november 2021 at 07:07 and distributed by: