December 3, 2019
WAK Management ended its 20-year hold on the Apartments at Fountains Corner, a 418-unit apartment complex in Fort Worth. The Lewisville, TX-based WAK sold the 62-building property at 5046 Hildring Dr. East to a Texas-based private investment group.
Al Silva of Marcus & Millichap represented the seller in the transaction, and secured the buyer. The property, situated on 18.5 acres, was marketed for four weeks, attracting 10 offers from investment groups nationwide. The sale closed approximately 90 days after agreement was reached between buyer and seller. The new owners are planning a multimillion-dollar renovation program to renovate exteriors, common areas and unit interiors.
Apartments at Fountains Corner offers one, two and three-bedroom units. Community amenities include resort-style swimming pools, on-site laundry facilities and courtyards and gardens.
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