Fort Worth, TX (November 17, 2021) – Buchanan Street Partners, a Newport Beach, California-based real estate investment firm, has acquired a 387-unit, recently completed Class A multifamily community located in Fort Worth, Texas from StoneHawk Capital Partners, LLC. The sellers were represented by Drew Kile, Joey Tumminello, Michael Ware, Taylor Hill, and Jeff Kindorf of Institutional Property Advisors.
The Jameson at the Bluffs features 64 studio, 241 one-bedroom, and 72 two-bedroom units, with 10 two-bedroom townhomes. The property was 98% occupied at the time of sale.
The property is located less than one mile from downtown Fort Worth and positioned within the Samuels Avenue historic neighborhood. Known for its convenient location with easy access to highways and proximity to Sundance Square and the famous Fort Worth Stockyards, Samuels Avenue extends from downtown to the city’s North Side, winding along a bluff overlooking the Trinity River.
This surface-parked, elevator-served community consists of top-of-the-market unit features and highly desirable community amenities. Tenants are drawn to the resort-style pool, outdoor biergarten, indoor arcade and golf simulator, rooftop lounge, state-of-the-art fitness center, and yoga studio.
“The Jameson at the Bluffs represents an exceptional long-term investment opportunity to acquire Class A apartment units with resort-style amenities located near major employment centers in a submarket with strong fundamentals and long-term forecasted growth. Given Buchanan’s intimate knowledge and experience in the Dallas-Fort Worth market, we are confident in our ability to execute on our business plan,” said Kevin Hampton, Executive Vice President of Buchanan Street Partners.
The purchase further demonstrates Buchanan Street’s multifamily investment strategy focused on acquiring high-quality assets in growth markets with strong fundamentals. Specifically, the acquisition is Buchanan’s fourth multi-family acquisition in the DFW area in just the last 12 months. Buchanan plans to expand its footprint in the DFW region over the coming years given the strong submarket fundamentals and overall economic growth of the region.
ABOUT BUCHANAN STREET PARTNERS
Buchanan Street Partners is a real estate investment firm based in Newport Beach, California that invests debt and equity capital on behalf of institutional and private investors. Since its inception, Buchanan Street has invested more than $7 billion in real estate debt and equity investments. The company is comprised of a highly skilled team that has invested through multiple real estate cycles, enabling them to maximize value while prioritizing capital preservation. www.buchananstreet.com.