Purchaser Acquires 172-unit Property in Carrollton, Texas

Wellington Realty, a commercial real estate firm with brokerage and management capabilities servicing the four major markets in Texas, announced the successful sale of Fox Creek Apartments, located at 1910 Josey Ln, Carrollton, TX 75006.

Wellington Realty sold the property on behalf of their client, in November 2018 and the transaction was worked on by The Investment Sales Team including; Caleb Jones, Tammy Shaffer, William Hubbard, and Curtis Sung. The team provided an effective marketing strategy that led to a successful transaction for all parties involved.

The purchaser plans to implement a value-add strategy with interior upgrades and exterior replacements of Fox Creek Apartments. Caleb Jones with Wellington Realty, said “the purchaser will benefit from a stable DFW multifamily market with moderate rental market growth and rental increase with upgrades.”

Fox Creek Apartments is a late 60’s vintage asset with a 172 units. The property sits on over 6 acres and consists of 11 buildings that are less than a mile away from I-35 and 2 miles away from Lyndon B Johnson FWY providing easy access to the entire Dallas/Fort Worth Metroplex. Amenities of the property include a pool, on-site laundry center, and ample parking.

“Being in a centralized location with nearby employment and entertainment, Fox Creek Apartments allows a convenient location for workforce residents. With over 5,000 employers in the vicinity and 55% of households renting, this should bode well with the growing housing market,” said Mr. Jones.

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.