Updated Feb 20, 2025
Joseph Keough Of Wood Partners Acquires Student Housing Redevelopment In Fort Worth For 365 Units
3201 River Park Drive
Units
365
Asset Type
Student Housing
Closing
Feb 20, 2025
About this deal
AI
The transaction involved the sale of a student housing site located at 3201 River Park Drive in Fort Worth. Wood Partners acquired the asset, with plans for a redevelopment project consisting of 365 upscale apartment units featuring modern amenities and prime connectivity near The Shops at Clearfork and Trinity Trail.
Summary of transaction details:
- Property Type: Student Housing
- Transaction Amount: Not specified
- Address: 3201 River Park Drive
- Market: Fort Worth
- Buyer: Joseph Keough - Wood Partners
- Brokers: Danny Miller, Jorg Mast & Josh Gregory - Colliers
The sale was brokered by Colliers, whose representatives played a significant role in the transaction. Wood Partners is backed by an international capital investor to support the planned redevelopment of the site.
Players
Fort Worth Student Housing Market Snapshot
Boundary boundary · Student Housing · 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