Westmount Makes First Buy in Fort Worth
Westmount Realty Capital, LLC closed the acquisition of River Park, a 280-unit, garden-style multifamily community in southwest Fort Worth. Deal terms weren’t disclosed. Built in 1985, the 27-building community offers a mix of one and two-bedroom units.
“Westmount has been active in the multifamily space in North Texas for 30 years, but the acquisition of River Park marks our first multifamily purchase in Fort Worth,” said Cliff Booth, CEO of Westmount.
He added, “Fort Worth has strong economic fundamentals, steady growth and a multifamily occupancy rate that is higher than the national average. These traits make the Fort Worth market very appealing, and Westmount is actively looking for multifamily investment opportunities in similar markets across the Southwest.”
Specifically, said Westmount Managing Director Michael Anderson, “River Park presented Westmount with the opportunity to acquire a well-maintained multifamily community with significant value-add potential in a strong submarket of Fort Worth.”
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