BENA Capital is pleased to announce its latest acquisition of a multi-family apartment asset in Fort Worth, Texas — in a suburb just outside of the Dallas-Fort Worth (DFW) metroplex.

In the current pandemic environment, the DFW area has outperformed all other Texas Metros, with an average occupancy of 91.2% in July 2020. Overall in DFW, rent collections have remained stable and rent growth is expected to stay positive through the duration of 2020, especially in the case of suburban workforce housing. To date, we have not seen discounted market pricing in Fort Worth. Inventory levels continue to trend downward while demand remains strong. However, with our strong broker network and all-cash position, BENA Capital was able to procure a below-market purchase price and favorable deal terms on a turn-key whisper listing.

Cities like Fort Worth, with its robust growth, are well-positioned to weather economic slumps. We acquired this property fully occupied. Due to its location and stable rental income stream, it has less portfolio risk and the opportunity to benefit from greater price appreciation post-pandemic. It is a strong fit for the BENA Capital Mosaic Fund (Stable Income Fund). We are excited about the prospects of this property and expect the asset to be a healthy contributor to the fund.