FORT WORTH, Texas--- Jan. 29, 2016 ---Block Funds, a real estate equity firm, and Block Multifamily Group (BMG), a national multifamily management services company, recently closed on the acquisition of Trinity Bell Gardens, a 240-unit luxury multifamily community located in Fort Worth, Texas.
"With low unemployment and the strong rent growth of Fort Worth, coupled with Trinity Bell being a newly constructed property, we feel that the positives in the marketplace will only accelerate the success of Trinity Bell Gardens," said Bill Larson, CPM, and President of BMG.
Trinity Bell Gardens was built in 2012 and boasts unique features like its "Big House" design. With an average unit size of 1,086 square feet and top-of-the-market interiors like stainless steel appliances and granite countertops, Trinity Bell Gardens is the prime multifamily complex in the area.
"We are excited to add Trinity Bell Gardens to our portfolio, which has grown to over 6,500 units since our first multifamily acquisition in January 2013," said Ken Block, Managing Principal of Block Real Estate Services.
Block Funds is a leading real estate private equity firm with more than $1 billion in commercial property under management. Block Funds allows long-term, accredited investors seeking income, capital preservation and appreciation an opportunity to earn high, stable cash yields and competitive risk-adjusted returns with low correlations to other asset classes through investment in institutional quality commercial real estate. The Block Funds team has a combined 200 years of commercial real estate experience and has been involved in over $2.5 billion in real estate transactions. Block Funds investment professionals manage four private equity funds and hundreds of syndicated partnerships, leveraging Block Real Estate Services’ national network of relationships to source exclusive transactions with exceptional returns.
Block Multifamily Group (BMG) provides multifamily management services in a wide geographic area. Our de-centralized management, coupled with a centralized financial center, enables our staff to provide proactive property management services in a timely manner. Effectively managing our clients' needs is the focal point of our operating philosophy. Covering conventionally-financed multifamily assets as well as HUD-insured and Low Income Housing Tax Credit (LIHTC) properties, BMG is able to provide services for a wide client base.
BMG and Block Funds are a division of Block Real Estate Services (BRES), is a full-service commercial real estate company managing over 33 million square feet of retail, office, industrial, and multifamily properties for equity partnerships and third party owners. BRES’s portfolio of services continues its role as the most comprehensive commercial real estate firm in Kansas City by providing and specializing in: real estate brokerage services, tenant representation, investment services, asset and property management, economic incentives consultation, financial services, and construction and development services.