Starboard Realty Acquires 140-Unit Apartment Property in Fort Worth

Starboard Realty Advisors has acquired Presidio at River East, a 140-unit garden-style community in Fort Worth. The sales price was not disclosed.

Located at 2413 Race Street, the Presidio is approximately three miles from downtown Fort Worth. The property consists of a mix of studio, one- and two-bedroom apartment units with stainless steel appliances, smart home technology, in-unit washer & dryer and patio/balcony or private yards. Community amenities include a resort-style pool with views of downtown Fort Worth, outdoor kitchen/dining area, fitness center and a dog park with washing station. At the time of sale, the Presidio was fully leased.

Drew Kile, Joey Tumminello, Michael Wave, Taylor Hill, Jeff Kindorf and Will Balthrope of IPA represented the seller, a Dallas-based developer, in the transaction.

“The investment opportunity that the Presidio presents is exciting as Fort Worth’s population has increased by more than 22% during the past 10 years, leading to a large demand in housing,” said Steve Carlton, COO at Starboard. “16 Fortune 500 companies reside in the Dallas-Fort Worth area promising economic strength that will continue to attract new residents.”