Lang Partners Sells 390-Unit Fort Worth Community

The Cooper. Image courtesy of Institutional Property Advisors An affiliate of Lightbulb Capital Group has…

The Cooper. Image courtesy of Institutional Property Advisors

An affiliate of Lightbulb Capital Group has acquired The Cooper, a 390-unit community in Fort Worth, Texas. Regional Management provided a $69.4 million bridge loan for the acquisition, Yardi Matrix data shows. Institutional Property Advisors represented the seller, Lang Partners, and procured the buyer.

Completed in 2021, the community comprises two five-story buildings with studio, one-, two- and three-bedroom floorplans, ranging from 540 to 1,810 square feet, equipped with keyless entry systems and private patios or balconies. Property amenities include a coworking lounge, swimming pool, courtyard, fireplace and fitness center. The Cooper has achieved full lease-up within a year, according to IPA.

Located at 1001 W. Rosedale Street, the community is less than half a mile from numerous dining options alongside West Magnolia Avenue and within a mile of Newby Park. The Near Southside Medical District, one of the major employment hubs, is less than a mile from The Cooper. Downtown Fort Worth, offering various employment and entertainment options, is within 2 miles of the property.

Thanks to its proximity to various amenities and employment hubs, Fort Worth’s Southside district continues to be a favored area for multifamily assets as investors expand their footprint throughout the metro, Joey Tumminello, senior vice president of IPA, said in a prepared statement. Just last week, IPA brokered the sale of The Heights of Cityview, another 344-unit community in Fort Worth, Texas, acquired by 37th Parallel Properties.

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