Illinois firm buys 314-unit Verandas in Fort Worth

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.

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