Cottonwood Group with its partner Texsun Holdings has acquired a 480-unit multifamily portfolio in Fort Worth, Texas.
The portfolio consists of the Woodstone Apartments, located at 6051 Bridge St., and Bridge Hollow Apartments, at 5801 Bridge St.
Cottonwood acquired the portfolio through the Cottonwood Real Estate Founders Fund, a multi-strategy open-ended fund. The portfolio is the second multifamily acquisition between Cottonwood and Texsun this year. The partnership acquired two multifamily assets, the San Mateo Apartments and Heights on Perrin Apartments in San Antonio, last month.
The business plan includes a renovation and repositioning of the 342,000-square-foot portfolio, for which Cottonwood and Texsun have budgeted approximately $5 million.
