March 2019 Founders Grove Capital Newsletter
We closed Marabella Apartments, a 415 unit complex in Las Colinas, TX on Tuesday March 5th, bringing our portfolio to just over 2,900 units valued at $318M. Founders Grove Capital is focused on acquiring the best, most promising multifamily investment opportunities in Dallas-Fort Worth. The demand for multifamily investments in DFW is as competitive as it’s ever been and rightly so, thanks to tremendous population growth and new job creation. We will continue to seek out the very best opportunities leveraging our institutional relationships with owners and brokers.
In related news, one of the world’s largest suppliers of flow control systems, Flowserve, recently announced they are keeping their global headquarters in Las Colinas and plan on adding 75 new jobs at an average wage of $275,000. Flowserve signed a 10-year lease at the Tower at Williams Square, which is less than a mile from Marabella. Click here to learn more.
Additionally, the state of Texas was recently awarded the Governor’s Cup by Site Selection magazine for the seventh consecutive year, which is awarded to the state with the most “qualified projects” (at least $1 million of investment, 20 or more new jobs, and/or 20,000 or more square feet of new space) in the previous calendar year. During his acceptance speech, Governor Abbott specifically praised Las Colinas and Irving for its overall number of Fortune 500 companies, as well as for the five new economic development projects announced last year. Click here to learn more.