GRAND PRAIRIE, TX – FCP and VaultCap Partners have acquired the adjacent 100-unit Prairie Ridge Apartments after acquiring Corey Place Apartments in July 2021. The company plans to group the properties under a new name, The Marabella on Pioneer, and to lease and operate the Marabella as a community of 375 units.
"Combining Corey Place with Prairie Ridge provides an opportunity to increase both scaling efficiency and placement as we operate both properties under one flag," said Cole Kellogg of FCP. "FCP is excited to be working with VaultCap again on Prairie Ridge. We acted quickly and closed a cash transaction within 21 days of signing the contract."
"The ability to invest a significant amount of renovation capital in both communities will be of great benefit to both residents and the neighborhood," said Ryan Heddleston of VaultCap.
Located at 313 Freetown Road in Grand Prairie, Prairie Ridge Apartments offer one, two and three bedroom apartments with convenient access to 161, 360, I-20 and I-30, as well as a variety of job centers, facilities and entertainment options nearby Fort Worth and Dallas.
FCP and VaultCap would like to thank Wes Racht, Nick Fluellen and Bard Hoover of Marcus & Millichap for representing the seller on the transaction.
Source: FCP / VaultCap partner