FORT WORTH--The Shops at So7 and So7 Parkside Urban Apartments in Fort Worth have been sold. On behalf of CDK Realty Advisors representing an institutional client, JLL Capital Markets announced the sale. Tabani Group purchased the property for an undisclosed amount. Starwood Mortgage Capital provided the financing for the purchase.
“This was a somewhat challenging property because of the disproportionate ratio of multifamily to commercial space,” Jorg Mast, senior vice president with JLL, told GlobeSt.com. “It required a creative marketing approach, but we've worked with Tabani in the past and knew they had an appetite for mixed-use space and would see the upside potential in the investment.”
The Shops at So7 is a 65,535-square-foot mixed-use lifestyle development that is anchored by Parkside Urban Apartments, a 300-unit luxury multifamily complex.
Managing director Jeff Price and Mast led the JLL team on the transaction, in conjunction with JLL managing director Adam Howells and vice president Jace Hinderland. Steve DeRose and Max Dorsch of Starwood Mortgage Capital oversaw the financing component.
The Shops at So7 features 22,508 square feet of office space and 43,027 square feet of high-end retailers and restaurants to create a vibrant experience for visitors and residents
So7 Parkside Urban Apartments was built in two phases. The original 71 units in Phase I were built to condo standards, while the recently completed 229 units in Phase II were built to a premium “for lease” standard.
Upscale amenities include a secluded fireside courtyard, resident lounge with game center, 24-hour fitness and cardio center, and two resort style pools with tanning ledge. Unique apartment finishes include open-concept kitchens, USB outlets, granite countertops, and spa-inspired bathrooms with oversized showers.
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