Joint Venture to Convert Ft. Worth’s Oncor to Apartments

Syndicated Equities (Syndicated) has taken over the Oncor, an office building that will be converted to multifamily located in downtown Fort Worth, Texas. The property will be redeveloped by 3L Real Estate, a Chicago and Dallas-based developer that specializes in the adaptive reuse of converting urban office buildings to residences. The property consists of a 314,514-square-foot, 16-story office building and a four-story addition. Once complete, it will feature 330 units with Class A amenities including a gym, pool, rooftop deck, and business center. Syndicated acquired the property alongside 3L Real Estate.

The building was 70% occupied by Oncor Electric at the time of the sale. It had an assessed value of $21M in 2022. Oncor has since moved into the 777 Main 40-story tower.

Syndicated Equities provides accredited investors and family offices with an opportunity to acquire interests in institutional-quality real estate. Since 1986, Syndicated Equities has acquired over $2 billion of real estate assets on behalf of its clients.