Dallas firm sells North Richland Hills apartment complex after 5 years of ownership

Texas-based private equity firm, SPI Advisory, LLC, disposes of Wood Meadow Apartments
[PR]: SPI Advisory sells DFW apartments after 5 years of ownership
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The Dallas and Austin-based multifamily private equity firm, SPI Advisory, LLC (“SPI”) & its 1031 partners announced the sale of The Wood Meadow Apartments, a 222-unit, Class B apartment complex located at 6897 Meadow Crest Dr in the Fort Worth suburbs of North Richland Hills, TX. Constructed in 1984 and renovated in 2018, the property was initially acquired by SPI and its partners in 2017.

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Over the past few years of ownership, SPI implemented a number of capital improvements to the property that included basic and premium unit upgrades, dog park renovation, office remodeling, the installment of a package locker system, and more.

“It was bittersweet to sell Wood Meadow as it’s a great property in an attractive submarket,” said Michael Becker, Principal at SPI Advisory in a statement. “We’re happy to sell this asset to a repeat buyer of ours, Twinkle Star Asset, LLC, and we wish them the best with their future at Wood Meadow.”

Located nearby Highway 820 and Loop 377, Wood Meadow Apartments offers residents quick access to Fort Worth city center, North East Mall, & DFW International Airport. Amenities include one- and two-bedroom apartment homes complete with private patio balconies, spacious kitchens, custom-built fireplace mantles, and walk-in closets. Residents also enjoy exclusive courtyards, a resort-style pool, a fully-equipped fitness center, a dog park, and an on-site courtesy officer.

Lisa Hay

Lisa is a staff reporter for What Now Media Group. She covers new restaurant, retail, and real estate openings across all of our markets. A true foodie, this Air Force veteran has lived all over the world — from Aviano, Italy to Nairobi, Kenya — but her favorite spot is NOLA for its rich history, architecture, culture, and of course, its good eats.
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