DENTON, Tex.—Kingswood Circle LLC has purchased Kingswood Apartments, a class B 200-unit complex, in Denton. The partnership of Mike Wells and Robert Aiello acquired the asset from an out-of-state owner for $10 million.
According to Aiello, the duo will invest $700,000 towards improvements to the property, aiming to increase the per unit rate by $100-$125 a month.
“The Denton multifamily market is exploding,” Aiello told GlobeSt.com.
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