FORT WORTH, TEXAS — Weidner Apartment Homes has acquired Monterra Village, a 550-unit community in Fort Worth, from Hillwood Multifamily for an undisclosed price. Built in two phases on 35 acres in 2008 and 2013, the garden-style property features a lagoon, lap pools with water features and pocket parks. The average apartment size is 985 square feet.
Monterra Village is located within the 900-acre Alliance Town Center development, which features 1 million square feet of retail, restaurant and office space. Alliance Town Center is surrounded by the 27,000-acre AllianceTexas master-planned development. The mixed-use project is home to more than 575 corporations that support more than 66,000 jobs.
Drew Kile, Taylor Hill, Joey Tumminello, Michael Ware, Cameron Purse and William Hubbard of Institutional Property Advisors, a division of Marcus & Millichap, represented the seller and procured the buyer in the transaction.