SPI Advisory, LLC (“SPI”) announced the sale of Northpoint Villas, a 276-unit Class A apartment community located in Fort Worth, Texas. The property, built in 2009, is situated just a 15-minute drive from Downtown Fort Worth, providing residents immediate access to one of the nation’s most rapidly growing urban centers (U.S. Census Bureau, Dec ‘23). SPI closed on the transaction on October 30th, marking a successful exit after over five years of ownership.
Under SPI’s stewardship, Northpoint Villas underwent a series of strategic upgrades that enhanced its appeal to residents seeking both convenience and quality of life. The community is located near Fort Worth’s cultural centers, lifestyle hubs, and employment centers including a 10-minute drive from AllianceTexas (66,000+ employees). Northpoint is also zoned to the highly regarded Keller ISD, offering families the ability to benefit from exceptional educational opportunities in a vibrant setting.
Positioned within the nation’s #2 job market (2023), residents enjoy a short commute to leading employers in the Dallas-Fort Worth metroplex, including Amazon, Coca-Cola, Charles Schwab, Lockheed Martin, and BNSF Railway.
“Northpoint Villas has been a standout asset in our portfolio over the past five years,” stated SPI co-founder and principal, Michael Becker in a statement. “With top schools, easy access to major employers, and a vibrant setting, it’s a property that truly offers the best of both worlds… Its sale is a testament to the quality of both the property and the Fort Worth market.”
“We’re thrilled to deliver strong returns for our investors with this transaction and look forward to continuing our investment strategy in other high-growth markets,” said SPI co-founder and principal, Sean Mabarak.
Northpoint Villas was initially acquired by SPI Advisory and its partners as part of a two-property portfolio in 2019. Its partner property, Oaks on Marketplace in Kyle, Texas, was sold in May.
