Boulder Peak Capital acquired The District at Highland Village earlier this month and will implement a comprehensive overhaul of the property’s exterior façade and landscaping, and bring the interior components up to a new standard.
Originally built by the seller in phases beginning in 2010 and completed in 2018, the property was acquired as part of a joint venture with Argosy Real Estate Partners, an institutional real estate fund with a current portfolio value in excess of $1.4 billion, according to a news release from Boulder Peak Capital.
“This was a great opportunity for us to grow the portfolio with a Class-A trophy quality asset in one of the most affluent and desirable submarkets throughout DFW,” said Zack Montana, managing partner at Boulder Peak. “The property is the largest apartment community in Highland Village and is the only mixed-use property offering residential living, office space, and retail within one walkable community. The developer did an outstanding job constructing the project and we’re excited to create its personality with a fresh exterior look, new signage, and full rebranding. We also plan to spend a considerable amount of energy collaborating with the tenants in order to help bring traffic and awareness to the center while also creating a fun spot for the community.”
The District At Highland Village contains luxury 1, 2, and 3-bedroom apartments, two-story townhomes, and just over 70,000 square feet of commercial space. The property is located at the corner of FM 407 and Briarhill Boulevard, and feeds into Heritage Elementary School, Briarhill Middle School and Marcus High School.
“This is one of the nicest assets in the area and has a ton of onsite and local amenities that will only get better as we work to create a vibrant and thriving atmosphere,” Montana said. “We have engaged Shop Co., which is one of the best landlord representative firms in the state, to bring in commercial tenants that fill the desired needs of the property, and we will once again team up with City Gate Property Group to handle property management. City Gate is a current management partner of ours and they do an incredible job of taking care of our residents while working with the community to create an environment where people want to be.”