Resource Apartment REIT III, Inc. (the “REIT”), through its operating partnership, completed the purchase of Wimbledon Oaks, an apartment community located in Arlington, Texas, directly in-between Dallas and Fort Worth. Built in 1986, the 248-unit community features spacious floorplans along with amenities that include a resort-style swimming pool, 24-hour fitness center, and a clubhouse with community kitchen.
Wimbledon Oaks is in close proximity to employment opportunities, retail, dining, and entertainment options, along with access to the highly rated Mansfield Independent School District. An expanding community of blue-collar and college educated professionals have access to strong employment hubs nearby, including Great Southwest Industrial Park, which is home to Lockheed Martin and Quaker Oats. A massive General Motors Assembly Plant has been building cars and trucks and contributing billions of dollars to the local economy for over 60 years, and American Airlines’ new international headquarters is scheduled to open later this year.
Residents’ free time can be spent at 1.5 million square feet of retail, dining, and entertainment just two miles from home. Access to worldwide travel is available 20 minutes away at Dallas/Fort Worth International Airport.
“Wimbledon Oaks’ position on the map says it all. It’s right in the middle of everything that the area’s renters are looking for: employment, lifestyle opportunities, and good schools for their current or future families,” said Alan Feldman, the REIT’s Chief Executive Officer.
About Resource Apartment REIT III, Inc.
Resource Apartment REIT III, Inc. acquires and operates a portfolio of multifamily real estate throughout the United States. The REIT is sponsored by Resource Real Estate, LLC (“Resource”), which is a wholly owned subsidiary of C-III Capital Partners LLC, a fully integrated asset management and commercial real estate services company. Resource specializes in real estate investments that emphasize consistent value and long-term returns with an income orientation.