NAPA Ventures Unloads Westwood Apartments

NAPA Ventures sold Westwood Apartments, a 187-unit complex near downtown Dallas. The Cedar Park, TX-headquartered seller struck a deal with a Texas private partnership, which had, in turn, beat out eight offers during the three weeks the complex was on the market. Al Silva and Ford Braly with Marcus & Millichap represented the seller and sourced the buyer.

The asset, at 3064 Spruce Valley Lane, attracted offers from in-state and out-of-state investment groups. The new owner will continue a unit interior enhancement program that had been put into place for the past year, and has plans to re-brand the property.

NAPA Ventures had acquired the property in 2016, as part of a 1,450-unit portfolio buy. The Class B asset delivered in 1969, and offers one, two and three-bedroom units.

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