FORT WORTH—Miami-based Lloyd Jones Capital, a multifamily investment firm, has acquired Carol Oaks Apartments in east Fort Worth.

The firm plans to upgrade and re-brand the 224-unit community, located at 7412 Ederville Road.

“We are excited to re-brand Carol Oaks to our new Vibe model – a new concept for work force housing,” Chris Finlay, chairman/CEO of Lloyd Jones, told GlobeSt.com. “Our Vibe communities will be fun and hip with the latest in technology for our residents' use. The Vibe will offer a new experience in apartment living.” 

Carol Oaks is one of a handful of acquisitions scheduled for closing soon. Others are located in Houston, Tampa, FL, and South Florida. Its sister company, Finlay Management Inc., provides management services.

“It takes a lot of work to find a property of this caliber for our investors,” Finlay says. “But with our local 'boots on the ground' in every market, we have been able to track down the very best opportunities.”

Dallas/Fort Worth vice president of investments Mark McCoy is responsible for the acquisition, underwriting and subsequent asset management of Carol Oaks. McCoy credits the entire Lloyd Jones team for this timely closing. 

“Our underwriting team, our management team, our construction team all provided unique insight into this property,” he says. “We were on-site with operating phones, computers and new management the day we closed. We have an incredible team. The entire process is highly coordinated.”