Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of The Riley, a vibrant 178-unit multifamily community located in Burleson, Texas near Fort Worth.
Grant Raymond and Asher Hall of Cushman & Wakefield represented the seller, Corsair Ventures, in the transaction. The community was acquired by a JV Partnership between NewStreet Properties, LLC (headquartered in Omaha) and Thane Partners.
“The closing of The Riley highlights several important trends in today’s market. Firstly, the Dallas-Fort Worth area continues to draw substantial capital, a testament to its resilience fueled by substantial job and population growth, as evidenced by the generation of 36 offers. Secondly, private capital and family offices were attracted to The Riley’s prime location in Burleson, excellent schools, affluent demographics, and relatively low supply submarket compared to other parts of Fort Worth,” said Raymond, Senior Director at Cushman & Wakefield.
Recently completed in 2023, The Riley offers exceptional interior finishes and cutting-edge smart apartment features along with community amenities designed for modern living such as a resort-style pool, an Uber lounge, a dog spa and park, a 24-hour fitness center, a wine bar, a game area with shuffleboard, and a clubhouse featuring an activity center and co-working offices.
Strategically located between Hwy 74 and I-35W, The Riley also provides residents quick commutes to employment hubs and a workforce of 650,000 within 25-minutes, shopping, dining, live entertainment, and outdoor activities.
“The outlook for Dallas-Fort Worth multifamily investments heading into 2025 is very positive, and the capital market remains robust for both sellers and buyers. Debt and equity are readily available and long-term, risk-adjusted returns for multifamily assets in large markets such as Dallas-Fort Worth are outstanding,” added Hall, Senior Director at Cushman & Wakefield.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 100-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group has closed $3.7 billion in sales volume through 137 deals and 22,000 units.
