WILDWOOD CREEK ACQUISITION - GRAPEVINE
Mar 27, 2015 | Press Release
Rosewood Property Company and Grand Peaks Properties Purchase Wildwood Creek Apartments
Dallas (March 27, 2015) – Rosewood Property Company and Grand Peaks Properties have acquired Wildwood Creek apartments in Grapevine, Texas. The pair purchased the property for an undisclosed price. The 344-unit complex is comprised of one-, two- and three-bedroom apartments in distinct two-story buildings, set on over 30 acres of landscaping, trails and greenbelts.
"We are pleased to be partnering, once again, with Grand Peaks Properties on a project like Wildwood Creek," said Bill Flaherty, President of Rosewood Property Company. "Wildwood Creek's central location near the Grapevine Main Street development and adjacent to the Gaylord Texan, offers tenants immediate access to the surrounding area's amenities. In addition, the area is experiencing a substantial influx of investments in this community and neighboring Southlake and Flower Mound that will add further value to the project."
Wildwood Creek features a resort-style pool with a lap-pool, fountains and a heated spa. The community clubhouse hosts a business center, fitness center and game room, and BBQ grill stations are located throughout the property. Individual unit amenities include custom cabinetry, full-size washer and dryer connections, oversized walk-in closets and upgraded fixtures. In addition to abundant surface parking, premium parking is provided in one- and two-car garages with additional covered parking available.
"The property is in excellent condition, with outstanding amenities and lush, mature landscaping," stated Luke Simpson, CEO of Grand Peaks Properties. "We plan to invest in the completion of some of the unfinished unit renovations to bring the property to its full potential."
The property provides tenants easy access to IH-635, Hwy 121 and Hwy 114 and DFW International Airport. The apartments are located in the Grapevine-Colleyville Independent School District, which includes Colleyville Heritage High School, a National Blue Ribbon school.
Financing was arranged by NorthMarq; Grand Peaks Property Management will manage the property and remaining renovation work.
About Rosewood Property Company
Rosewood Property Company, based in Dallas, is a wholly owned subsidiary of The Rosewood Corporation. Rosewood Property Company and its affiliates have an extensive portfolio, including investments in land, office, industrial, self-storage, and multifamily assets, as well as investments in the equity securities of public and private real estate investment companies. For more information, visit www.rosewoodproperty.com.
About Grand Peaks Properties
Grand Peaks Properties is a totally integrated organization capable of uniting its considerable resources to meet the goals, expectations and demands of owners and investors. Grand Peaks has successfully combined innovative development expertise with creative real estate financing and a disciplined approach to property management. The success of the properties has provided Grand Peaks with substantial financial strength, enabling it to extend its activities into many facets of the real estate industry. http://www.grandpeaks.com/Grand-Peaks-Properties
For more information contact:
Rosewood Property Company
Grand Peaks Properties