FORT WORTH, Texas – March 9, 2016 – CBRE Capital Markets’ Investment Properties announces the sale of Courtyards on Glenview, a 241-unit multifamily community in the Fort Worth suburb of North Richland Hills, Texas. EB Real Estate Group, LLC purchased the asset from Courtyards on Glenview, L.P. for an undisclosed price.
Chris Deuillet and Nita Stewart, with CBRE’s Dallas office, represented the seller.
The 252,087-square-foot asset is located at 4401 Glenview Court in North Richland Hills. The complex features large units with an average size of 1,046 square feet. It was 93 percent occupied at closing.
“Today, it’s very rare to find older multifamily assets like this one near new retail and shopping like Best Buy and LA Fitness and a destination mall. Due to its desirable location, rents have increased significantly at the property, yet the full rental potential has not been achieved. This is a quality asset with additional upside potential,” said Mr. Deuillet.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
