FORT WORTH--SWBC Real Estate LLC has sold its Overlook Ranch Apartment Compl. SWBC Real Estate developed the property in a partnership with American National Insurance Co. The property was sold through an off-market transaction for an undisclosed amount.

“It was a good time to sell Overlook Ranch, as the apartment market is strong and should continue to be healthy into the foreseeable future,” Terry Gwin, president of SWBC Real Estate, says. “Rents are up, vacancies are down, and population growth in North Texas continues to increase at a rapid pace.

“Texas is a hot market for multifamily properties with a lot of qualified buyers looking for good cash flowing properties. Additionally, the AllianceTexas corridor of north Fort Worth continues to add high-paying jobs, which should help to keep the rental market within the area in high demand.”

The class A, 318 garden-style unit property is in close proximity to the recently announced Facebook Data Center. The complex, which was completed in July 2015, was purchased by CAF Capital Partners.

“We have been looking for an acquisition opportunity in the Alliance area for some time,” says Chris Faulkner, CEO of CAF Capital Partners. “We are thrilled with the quality and location of Overlook Ranch. “Given the positive dynamics of the area, we will look for additional opportunities to acquire properties in the Alliance corridor.”