March 9, 2017
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Napali Capital LLC acquired The Monterrey Apartments & Townhomes, a 105-unit multifamily complex in Fort Worth from a local private seller. The price for the property at 7100 W. Vickery Blvd. was undisclosed. The Tarrant Appraisal District’s 2016 market value was $4.5 million.
Situated on 7.3 acres, The Monterrey Apartments & Townhomes consists of one, two and three-bedroom apartments, and two and three-bedroom townhomes. Amenities include a swimming pool and picnic area. Thomas Black with Napali Capital indicated that the plan is to improve the property’s operating performance, and grow rental income.
Napali Capital’s acquisition of The Monterrey Apartments & Townhomes is part of its long-term strategy to grow its portfolio, and strengthen its focus on creating passive income streams for its investors.
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