HLC Equity has acquired Fort Worth, Texas-based Republic Deer Creek Apartments, a multifamily community. HLC Equity used a $25.2M agency loan provided by Bellwether Enterprise and Maverick Commercial Properties under the Freddie Mac program to buy the property.
Dallas-Fort Worth, Texas (September 4th, 2018) – HLC Equity, a national real estate investment holding group and property manager, today announced the purchase of Republic Deer Creek Apartments, a 336-unit, Class-A, multifamily community located in Fort Worth, Texas.
According to HLC Equity, Republic Deer Creek, which was constructed in 2012, is strategically located next to significant commercial and office developments occurring at Everman Parkway, within close proximity to the burgeoning Burleson neighborhood, and south of the Fort Worth CBD, benefiting from organic market growth in one of the nation’s leading investment markets. It is situated close to Interstate 35W, providing direct access to some of the largest employment hubs, retail and entertainment venues in the surrounding area.
In line with HLC Equity’s strategy of purchasing community-oriented properties, Republic Deer Creek is richly amenitized with a resident business center, resort style swimming pool with expansive tanning ledges, poolside gazebo with BBQ grill, sand volleyball court, state-of-the-art fitness center, upscale clubhouse, billiards table, resident lounge with a coffee bar, dog park and playground, as well as garages and covered parking.
“We are excited to continue expanding our footprint in the DFW metroplex, which has become one of the most desirable cities in the USA from a quality of life perspective” said Daniel N. Farber, Principal at HLC Equity.
The property will be managed by HLC Equity’s management division, which intends to further increase value at this high-quality asset by providing residents with certain unit upgrade options, while integrating complimentary innovative technologies and processes to enhance resident satisfaction. “This property is a great match for HLC Equity’s portfolio, providing operational efficiencies for our management team, and ultimately better serves our residents”, noted David Molitor, Head of Operations at HLC Equity.
HLC Equity utilized a $25.2M agency loan originated by Bellwether Enterprise and Maverick Commercial Properties under Freddie Mac program for the purchase of Republic Deer Creek.
About HLC Equity
HLC Equity is a 65+ year-old company, with an expansive real estate portfolio, the entrepreneurial spirit of a startup, and institutional level execution. HLC Equity utilizes its real estate portfolio to carry out its mission of building thriving community experiences for our community members and the public at large. The company maintains a diverse portfolio, having owned and managed over seven million gross square feet of commercial, residential, and development land in 25 states. HLC Equity applies a disciplined, time-tested approach to each property, seeking to acquire and improve high-performing assets with an attentive eye to surrounding neighborhoods and communities.
HLC Equity is also the Founding Sponsor of the PropTech360 event series, a Global Real Estate and Technology Summit.