Makaan Investment Group Acquires $30MM Property in Fort Worth, TX
Makaan Investment Group adds Fort Worth to its growing list of multifamily locations in Texas after closing a $30MM Deal for 500 Flats Apartments. The acquisition delivers 248 classic and renovated units catering to the East Fort Worth submarket.
“There is no shortage of opportunities in this property. Located along I-30, 500 Flats can help residents access the largest cities in the metroplex: Fort Worth, Arlington, and Dallas. With some enhancements and value-add initiatives, we can invite in the multitudes who ply the major thoroughfares to reach these cities” said Makaan CEO Madina Shaik.
From the deal’s announcement to its closing in March 2022, 500 Flats has been met with high anticipation from investors. The team’s projections place the property’s IRR at around 20%, with a 2.28x Equity Multiple and cash-on-cash return at 9.83% on a holding period of 5 years.
Your Doorway to Peaceful City Living
500 Flats exudes a classic charm. It features garden-style buildings built in 1982 that open to spacious units. The property’s color scheme and interiors give a timeless appeal to this
suburban apartment escape.
With a great selection of amenities, residents can find many ways to savor their time with family, friends, and the apartment community. They can enjoy the property’s swimming pool and cabanas with a sundeck, barbeque at the picnic area, or a lively afternoon at the playground.
At 500 Flats, residents can lay back and enjoy the peace. A resident shares, “Friends love the property because it's calm. I love it because it's a safe living community. I have no worries about going from my car to my door.”
Restored by the time in their homes, residents of 500 Flats can head back and embrace city life. They can exit I-30 and cross interstate roads. They can chart their way to Globe Life Park, AT&T Stadium, and more. Once ready, residents of 500 Flats can easily swing open their doorway to the metroplex.
For more information on this property, see the details below.
500 E. Loop 820 Fort Worth, TX 76112
Are you interested in investing in similar properties?
Contact Makaan Investment Group by calling/texting us at 281-500-8554.