Wellington Realty Announces Sale of Primavera Apartments
Purchaser Acquires 164-unit Near Fort Worth’s Renaissance Square
DALLAS, June 7, 2016 –Wellington Realty, a commercial real estate services company with brokerage and management capabilities serving the four major markets in Texas, announced the successful sale of Primavera Apartments, located at 2201 E. Berry Street in Fort Worth.
The 164-unit complex was up for sale by an international investor in a 1031 Exchange. David Shaffer, Kirby Hall Jackson III, and Caleb Jones of Wellington Realty sold the asset.
“Our team has a vast understanding of the complexities of 1031 Exchanges, and the need for a seamless process and an expedient real estate transaction,” said Kirby Hall Jackson III, Investment Analyst, Wellington Realty. “Our relationships with local, national, and international qualified investors enabled us to pair the right buyer with our client in a timely manner and facilitate a value-driven sale.”
Primavera Apartments is located near Renaissance Square, a 180-acre mixed use development situated in the middle of the city. The development of Renaissance Square has helped to revitalize the area and drive up real estate values.
“Wellington Realty’s in-depth knowledge of the Dallas Fort Worth market enabled us to meet the seller’s short- and longer-term investment needs,” said Caleb Jones, Brokerage Associate, Wellington Realty. “Because of our deep market knowledge, we were also able to help the seller quickly identify another property to satisfy the 1031 Exchange requirement.”