Illinois firm buys 314-unit Verandas in Fort WorthIllinois firm buys 314-unit Verandas in Fort Worthhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=77532013-04-08T12:12:00Z2013-04-08T00:00:00Z

FORT WORTH - Verandas at Cityview, a 314-unit apartment community located at 7301 Oakmont Blvd., has been purchased by The Marquette Companies for $25.3 million. The property was 95.2 percent leased at the time of sale, according to the SEC.

Built in 2003, Verandas at Cityview is a gated community that includes 290 traditional apartment and 24 townhome floor plans, ranging from 637 to 1,637 sf. The community’s one- to three-bedroom units rent for $705 to $1,671 per month.

The company plans a number of improvements to the property including purchasing all new equipment for the fitness center, business center and coffee bar; and renovating the office and clubhouse. Upgrades are planned for the units as well, including new appliances and plank wood flooring.

The Marquette Companies is based in Naperville, Illinois.

Read more at GlobeSt.com.

Dallas-Fort Worth-Arlington
http://www.globest.com/news/12_577/dallas/multifamily/marquette-companies-purchases-314-unit-complex-331813.htmlRead more at {Source}

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