Starboard Realty Advisors has purchased Presidio at River East, a 140-unit garden-style community located in Fort Worth, Texas. The seller was an unnamed Dallas-based developer.
“The investment opportunity that the Presidio presents is exciting, as Fort Worth's population has increased by more than 22 percent during the past 10 years, leading to a large demand in housing,” said Steve Carlton, Starboard's COO. “Sixteen Fortune 500 companies reside in the Dallas-Fort Worth area, promising economic strength that will continue to attract new residents.”
At the time of sale, the Presidio was 100-percent leased. Located at 2413 Race St., the Presidio is less than 3 miles from downtown Fort Worth. The property is a mix of studios, one-bedroom/one-bathroom, and two-bedrooms/two-bathrooms apartment units with stainless-steel appliances, smart-home technology, in-unit washer and dryer, with patio/balcony or private yards. Community amenities include a resort-style pool w
