Camino Verde Group has expanded into Texas after acquiring Antigua Village Apartments. Soon to be renamed Apex Apartments, the 152-unit community is located within Fort Worth’s Stop Six submarket, a part of the 2020 Stop Six Choice Neighborhood Initiative. The acquisition is a joint venture with Bakerson, an Arizona-based real estate investment and capital management firm.
“This acquisition fits into our core value of targeting investments with low volatility and high returns, not just economic but also those outcomes that benefit the broader community stakeholders,” says Mike Ballard, co-founder and managing director of Camino Verde Group. “In a market undergoing substantial redevelopment, we identified an opportunity to provide quality housing to attract renters as this neighborhood transforms.”
The gated community offers two- and three-bedroom units, on-site property management, playground areas, and a business center. Comprised of 10 two-story buildings on a 7.33-acre lot, Apex Apartments will be updated with high-quality appliances and finishes. New cabinetry; granite countertops and backsplashes; vinyl plank flooring; and individual air conditioning and heating are planned for each unit.
“Based on the current market trends and data, Fort Worth is seeing rapid growth across all industries, which is resulting in a strong demand for multifamily housing. Our proposed plan of improvements will make this already attractive property standout to the increasing demographic in need of upgraded rental housing in the Stop Six submarket,” says Ballard.
Through the Stop Six Choice Neighborhood Initiative, Fort Worth is investing in the area to create a safe, convenient, and more sustainable community. The six-phase project will include a total of $345 million in recreation, health, education, residential, and commercial property developments. Adjacent to Apex Apartments is Cowan Place, a senior living community that is undergoing development as a part of the initiative.
