Purchaser Acquires 180-unit Property in Waco, Texas

Wellington Realty, a commercial real estate services company with brokerage and management capabilities serving the four major markets in Texas, announced the successful sale of West Campus Lofts, located at 805 S. 8th St, Waco, TX 76706.

The loft-style apartment complex sold in March 2018 and Wellington Realty’s Managing Partner, David Shaffer, and Investment Sale Associates, Caleb Jones, Tammy Shaffer and William Hubbard who are all based in the company’s Dallas office, worked on the transaction. The investment sales team created value for the buyer through its in-depth knowledge of the Texas market.

“The new owner purchased a newly renovated historic high school that had been vacant for years. For the last decade, Baylor University has seen a large enrollment increase that has created the need for additional housing in the area. The renovation not only helped the city, but it also has fulfilled a need for the community,” said Tammy Shaffer, Brokerage Associate of Wellington Realty.

Redeveloped in 2017, West Campus Lofts is a multifamily community offering a variety of two and three-bedroom units for student living and young professionals. The property is in close proximity to Baylor University and walkable to nearby dining and attractions. The complex is known for its high-end furnished units, granite counter tops, hardwood style floors and stainless-steel appliances. The amenities include a luxurious pool with a cabana, 24-hour fitness center, game room and a student study lounge.

“West Campus is located right off I-35, and next to large attraction in Waco, Magnolia Market, which has sparked redevelopment in the immediate area.Moving forward, because of the city’s recent uptick in both employment and job growth, along with increasing prices in primary markets, secondary markets like Waco will continue to receive a lot of investor interest,” said Caleb Jones, Brokerage Associate of Wellington Realty.

ABOUT WELLINGTON REALTY

Wellington Realty offers commercial real estate brokerage and property management services in Dallas, Houston, Austin, and San Antonio. The firm specializes in real estate investment sales, leasing services, property management, and asset management for office, industrial, retail, and multifamily properties as well as developable land. For more information, visit www.wellingtonrealty.com.