Friday, 14 December 2018
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Wellington Realty Announces Sale of NorthPark Village Apartments

Posted On Tuesday, 04 December 2018 09:58

DALLAS, November 12, 2018Wellington Realty, a commercial real estate services company with brokerage and management capabilities serving the four major markets in Texas, announced the successful sale of Northpark Village Apartments, located at 5601 Central E Fwy, Wichita Falls, TX 76305.

The Class-A apartment complex sold in November 2018 and Wellington Realty’s Managing Partner, David Shaffer, and Investment Sale Associates, Caleb Jones, Tammy Shaffer, William Hubbard, and Curtis Sung who are all based in the company’s Dallas office, worked on the transaction. The investment sales team created value for the buyer through its in-depth knowledge of the Texas market.

“The new owner purchased a newly built apartment complex that was in need of some capital improvements. Over the last several years, Wichita Falls has seen a decent increase in population that has created an immediate housing demand. This was a true value-add asset that the owner can take advantage of immediately,” Shaffer said.

Built in 2005, Northpark Village is a multifamily community offering a variety of one, two and three-bedroom units for student living, Air Force Base residents and young professionals. The property is in close proximity to Sheppard Air Force Base and walkable to nearby dining and attractions. The complex is known for its high-end furnished units, counter tops, hardwood style floors and stainless-steel appliances. The amenities include a luxurious pool with a grill, 24-hour fitness center, and on-site storage units for extra space.

“Northpark Village is located right off I-44, and next to the Sheppard Air Force Base. Moving forward, because of the city’s recent uptick in both employment and job growth, along with increasing prices in primary markets, secondary and tertiary markets like Wichita Falls will continue to receive a lot of investor interest,” Jones said.

ABOUT WELLINGTON REALTY
Wellington Realty offers commercial real estate brokerage and property management services in Dallas, Houston, Austin, and San Antonio. The firm specializes in real estate investment sales, leasing services, property management, and asset management for office, industrial, retail, and multifamily properties as well as developable land. For more information, visit www.wellingtonrealty.com.

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