Starboard Realty Advisors Announces Acquisition of 'Class A' Apartment Community in Fort Worth, TX
IRVINE, Calif., Feb. 10, 2022 -- Starboard Realty Advisors is pleased to announce the acquisition of Presidio at River East, a 140-unit garden-style community located in Fort Worth, Texas. The Seller, a Dallas based developer, was represented by Drew Kile, Joey Tumminello, Michael Wave, Taylor Hill, Jeff Kindorf, and Will Balthrope of IPA. Escrow closed on December 28, 2021.
"The investment opportunity that the Presidio presents is exciting as Fort Worth's population has increased by more than 22% during the past 10 years, leading to a large demand in housing," said Steve Carlton, Starboard's Chief Operating Officer. "16 Fortune 500 companies reside in the Dallas-Fort Worth area promising economic strength that will continue to attract new residents."
Located at 2413 Race Street, the Presidio is less than 3 miles from downtown Fort Worth. The subject property consists of a mix of studios, 1BD/1BA, and 2BD/2BA apartment units with stainless steel appliances, smart home technology, in-unit washer & dryer, with patio/balcony or private yards. Community amenities include a resort-style pool with unobstructed views of downtown Fort Worth, outdoor kitchen/dining area, state of the art fitness center, and a dog park with washing station. At the time of sale, the Presidio was 100% leased.
About Starboard Realty Advisors, LLC
Starboard Realty Advisors, LLC, headquartered in Irvine, California, acquires, manages, and operates multi-family, multi-tenant retail shopping centers and QSRs. Starboard is a privately held, fully integrated real estate firm, whose principals have more than 30 years of hands-on, cycle-tested experience in acquiring, developing, leasing, repositioning, managing, financing, and disposing of retail, multifamily, office and industrial real estate during which they have developed a network of relationships with brokers, sellers, retailers, and an array of other tenants.