Transwestern Investment Group (TIG) and S2 Capital LLC today announce the acquisition of Oak Creek Apartments on behalf of one of its managed funds. Located at 1611 Oak Creek Lane in Bedford, Texas, the 464-unit property is one of the largest Class B communities in the “midcities” between Dallas and Fort Worth. Transwestern’s Managing Director Taylor Snoddy and Vice Presidents Philip Wiegand and James Roberts represented the seller in the transaction. This value-add acquisition represents the first multifamily purchase of the fund.
The 61-building property is 92 percent occupied and provides an attractive opportunity to upgrade approximately 80 percent of the units with modern interior finishes. Additionally, TIG and S2 Capital plan on renovating the leasing center, fitness center and clubhouse to further enhance the overall value of the asset.
Oak Creek Apartments is well-positioned near some of the busiest thoroughfares and interchanges in the metroplex. This mid-cities location benefits residents with access to some of the metroplex’s major employment hubs, including Dallas/Fort Worth International Airport, downtown Fort Worth, and downtown Dallas. The property offers residents direct access to Bell Manor Elementary School, which creates an ideal community for families that want to be in the highly regarded Hurst-Euless-Bedford school district.
About Transwestern Investment Group
Transwestern Investment Group (TIG) is an investment adviser serving a broad range of investors through a diversified array of discretionary and non-discretionary investment vehicles. Our client-focused, relationship-driven approach ensures our priorities are our clients’ investment objectives. With $4.3 billion of assets under management, trust, integrity and transparency are the cornerstones of our business. TIG provides tactical investment management with an integrated operating platform through the Transwestern family of companies, which includes a diversified real estate services firm with 35 U.S. offices and a development company.