From left: SPI Advisory’s Sean Mabarak and Twinkle Star Asset’s Ken C. Yue along with the Wood Meadows Apartments at 6897 Meadow Crest Drive in North Richland Hills (Getty, SPI Advisory, Twinkle Star Asset)
The investment firm first bought the 222-unit, Class B apartments located at 6897 Meadow Crest Drive in North Richlands Hills, a suburb just outside of Fort Worth. The company acquired the complex in 2017 before embarking on a number of renovations the following year.
Twinkle Star Asset, a local multifamily investment firm, bought the apartments for an undisclosed price, SPI announced. While financial records were not disclosed, the complex’s taxable value last year was $24.5 million or $110,000 per unit, according to Tarrant County Appraisal District records. In 2018, the value was listed at just under $17 million.”