November 6, 2020
FourPoint Investment Sales Partners arranged the sale of Bear Gardens Apartments in Waco. Built in 2001, Bear Gardens is a boutique 12-unit garden apartment community within walking distance of Baylor University.
FourPoint’s Kevin Dufour and Kyle Peco led the sales effort, which generated multiple offers in a highly competitive process. The Texas-based private investor that acquired the property plans to implement a comprehensive value-add investment strategy, which includes renovating the unit interiors and completing exterior upgrades throughout.
“There is a tremendous amount of capital from the multifamily investment community chasing multifamily assets large and small throughout the state of Texas,” said Dufour. “We were able to leverage this demand in order to generate multiple offers, which allowed us to maximize pricing and other business terms for our client in this transaction.”
FourPoint represented the seller, HB Gardens LLC, in the disposition of the property.
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