DENTON, TX-Following its success with the 240-unit Bridgemoor at Denton, Interwest Capital Corp. came back for more, acquiring the 300-unit Camino Del Sol for $17.2 million.  The San Diego investor will renovate the 100% occupied multifamily property, situated on 11 acres, in hopes of boosting rent growth.

“The interesting component we found in this property was that there had been fire damage in the units, about a dozen or so, and they were renovated awhile back,” says Karl Coleman, president of Interwest. “When that happened, the owners were able to get significantly higher rents in those renovated units.” According to the Denton Central Appraisal District, the seller of the 1980s-built multifamily complex at 1030 Dallas Dr. was SDS Apartments NF LP, a subsidiary of Sterling American Property in Great Neck, NY.

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