Palisades at Bear Creek Apartments
Palisades at Bear Creek Apartments is a 120 unit apartment complex located in Euless, Texas (within the Dallas/Fort Worth Metroplex). Aldwin will invest nearly $420,000 in the first 36 months on exterior and unit upgrades designed to increase rental income.
Asset Description
- Garden style community
- 12 buildings, 1 club house/leasing office, laundry center
- 1984 construction, 120 apartments
- B level asset
- Tenant base consisting mainly of singles and families working in a variety of industries in and around the Dallas Metroplex
Geographic Selection Criteria
- Hurst/Euless/Bedford known as Mid Cities due to its suburban location directly between downtown Fort Worth and downtown Dallas
- Surrounded by several major thoroughfares including State Highway 360, State Highway 121, and State Highway 183
- These highways were recently improved by way of the $2 billion North Tarrant Express project, which reconstructed and added lanes to Interstate-35E, Loop 820, and State Highways 121 and 183.
- Situated in the Hurst-Euless-Bedford (HEB) Independent School District that is ranked as one of the top 30 school districts in the state
- Minutes away from DFW International Airport, the 4th busiest in country. DFW generates over 228,000 jobs. The airport is in the midst of a $2.3 billion renovation which is slated to be completed in 2018. The airport generates $37 billion in economic activity each year
Transaction Highlights
- Aldwin will invest approximately $420,000 in capital improvements
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