SPI Advisory Announces the Successful Sale of Class A Fort Worth Apartments After Five Years of Ownership
SPI Advisory Announces the Successful Sale of Class A Fort Worth Apartments After Five Years of Ownership
PRESS RELEASE | November 5th, 2024
SPI Advisory, LLC
Dallas & Austin-based SPI Advisory disposes of Northpoint Villas, a high-quality multifamily property located in one of Texas' most competitive multifamily markets.
Fort Worth, TX – SPI Advisory (“SPI”) is pleased to announce the sale of Northpoint Villas, a 276-unit Class A apartment community located in Fort Worth, Texas. The property, built in 2009, is situated just a 15-minute drive from Downtown Fort Worth, providing residents immediate access to one of the nation’s most rapidly growing urban centers (U.S. Census Bureau, Dec. ‘23). SPI closed on the transaction on October 30th, marking a successful exit after over five years of ownership.
Under SPI’s stewardship, Northpoint Villas underwent a series of strategic upgrades that enhanced its appeal to residents seeking both convenience and quality of life. The community is located near Fort Worth’s renowned cultural centers, lifestyle hubs, and employment centers including a 10-minute drive from AllianceTexas (66,000+ employees). Northpoint is also zoned to the highly regarded Keller ISD, offering families the ability to benefit from exceptional educational opportunities in a vibrant setting.
Positioned within the nation’s #2 job market (2023), residents enjoy a short commute to leading employers in the Dallas-Fort Worth metroplex, including Amazon, Coca-Cola, Charles Schwab, Lockheed Martin, and BNSF Railways – making it an ideal choice for professionals who value an elevated, balanced lifestyle.
“Northpoint Villas has been a standout asset in our portfolio over the past five years,” stated Michael Becker, SPI principal and co-founder. “With top schools, easy access to major employers, and a vibrant setting, it’s a property that truly offers the best of both worlds… Its sale is a testament to the quality of both the property and the Fort Worth market."
“We’re thrilled to deliver strong returns for our investors with this transaction and look forward to continuing our investment strategy in other high-growth markets,” said Sean Mabarak, SPI principal and co-founder.