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Midcities Assets Get Attention As Supply Wanes

The lack of quality apartment land sites in the Hurst/Euless/Bedford submarket, coupled with tenant demand to live in a centralized DFW location, creates acquisition and redevelopment opportunities.

Oak Creek Apartments The 61-building property, Oak Creek Apartments, located at 1611 Oak Creek Ln. is 92% occupied.

BEDFORD, TX—Due to lack of land in the route between Dallas and Fort Worth, investors are turning to class-B opportunities that have upside potential. A recent acquisition is an example of that, and one of the largest class-B communities in the midcities area. The 464-unit property, Oak Creek Apartments, was acquired by Transwestern Investment Group and S2 Capital LLC on behalf of one of the duo’s managed funds.

The 61-building property located at 1611 Oak Creek Ln. is 92% occupied and provides an opportunity to upgrade approximately 80% of the units with modern interior finishes. Additionally, Transwestern Investment Group and S2 Capital plan on renovating the leasing center, fitness center and clubhouse to further enhance the overall value of the asset.

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Lisa Brown

Lisa Brown

Lisa Brown is an editor for the south and west regions of GlobeSt.com. She has 25-plus years of real estate experience, with a regional PR role at Grubb & Ellis and a national communications position at MMI. Brown also spent 10 years as executive director at NAIOP San Francisco Bay Area chapter, where she led the organization to achieving its first national award honors and recognition on Capitol Hill. She has written extensively on commercial real estate topics and edited numerous pieces on the subject.

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