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8301 Monterra Boulevard

Updated Dec 23, 2024

Weidner Apartment Homes Acquires Monterra Village Multifamily Asset In Fort Worth From Hillwood Multifamily
SOLDMultiFamily

Weidner Apartment Homes Acquires Monterra Village Multifamily Asset In Fort Worth From Hillwood Multifamily

8301 Monterra Boulevard

Units

550

Asset Type

MultiFamily

Closing

Dec 20, 2024

About this deal

AI

The sale involved a multifamily property consisting of 550 units situated on 35 acres at 8301 Monterra Boulevard in Fort Worth, Texas. This property, known as Monterra Village, was built in two phases between 2008 and 2013, featuring upscale amenities and strategic proximity to Alliance Town Center and significant employers within the AllianceTexas development.

Summary of transaction details:

The deal was facilitated by Institutional Property Advisors, who played a crucial role in connecting the buyer, Weidner Apartment Homes, with the sellers, Ross Perot Jr. and Todd Platt of Hillwood Multifamily. This transaction showcased a value-add investment opportunity in the Fort Worth market.

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Players

Drew Kile

Institutional Property Advisors

Broker

$383.2M

vol

86 deals

Broker
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Fort Worth MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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