Austin-based multifamily investment firm repositioning capital to focus on new investment strategy
AUSTIN, Texas, Nov. 30, 2021 (GLOBE NEWSWIRE) — Casoro Group, a leading multifamily real estate investment firm based in Austin, Texas, announced today the sale of five multifamily properties in the Dallas-Fort Worth market, totaling 1,070 units. The sale represents Casoro Group’s latest investment strategy to redirect capital to real estate properties focused on the knowledge worker market sector.
“We would like to thank Civitas Capital Group for partnering with us on the investment in this multifamily portfolio and helping to make it a successful sale,” Casoro Group CEO Yuen Yung said. “This sale comes at the perfect time for Casoro Group to realign with our knowledge worker real estate investment strategy in the Sunbelt region. By allocating available funds toward projects serving a generation of highly skilled, resilient workforce, we are confident that our investments will endure beyond periods of both growth and recession.”
Two of the complexes that were sold are situated in Dallas, including the 216-unit Mariposa Villas, located at 1531 Duncanville Road, and the 332-unit Vistas at Pinnacle Park, located at 4599 West Davis Street. Both Class B properties were originally constructed in 2003 and feature garden-style, conventional multifamily apartments.
The three additional communities are located in high-growth suburbs of the Dallas-Fort Worth area and are also garden-style, Class B properties. Huntington Ridge at 821 South Polk, in DeSoto, was constructed in 2007 and features 198 units; the 180-unit River Oaks complex in Wylie is located at 2000 Country Club Road and was constructed in 2002; and the 144-unit Savoy of Garland apartment complex is in Garland, at 608 Rowlett Road, and was constructed in 2008.
Casoro Group seeks multifamily investment opportunities for its family office, high-net worth, and institutional clients. The firm owns and manages multifamily properties throughout Texas and is pivoting its real estate investment strategy to target areas where knowledge worker employees live, work and play in the larger Sunbelt region. As a vertically integrated real estate investment firm and parent company of CLEAR Property Management and Upside Avenue multifamily REIT, Casoro is creating opportunities for investors to enjoy the benefits of multifamily real estate ownership.
About Casoro Group
Casoro Group is a 100% minority-owned, award-winning vertically integrated multifamily real estate investment firm. Our commitment is to provide Better Homes for Better Lives®. By taking a resident-focused approach to our multifamily communities, we improve the quality of life for our residents and increase the social impact of returns for investors. Our talented investment team has more than 100 years of combined experience in multifamily real estate acquisitions, ground-up development, and asset management. Our deep expertise in the areas that matter most to investors means we add value and capture the upside.