DALLAS and LANCASTER, Texas, Jan. 11, 2017 /PRNewswire/ -- Network Acquisition Partnership Alliance LLC, or NAPA Ventures, an Austin, TX based multifamily and commercial real estate investment company co-founded by Glenn Gonzales and Shravan Parsi announces the acquisition of Eagle Point and Pleasant Creek Apartments.
"As a team, we couldn't be happier with the closing of Eagle Pointe and Pleasant Creek which completes our 1450-unit multifamily portfolio with eight properties in Dallas and Fort Worth MSA," said Shravan Parsi, Co-CEO of NAPA.
DFW MSA is No. 3 in population growth in U.S. cities in 2016 per Realtor Magazine, "which gives us (NAPA) great confidence in the purchase of these properties," Parsi said.
Eagle Pointe and Pleasant Creek Apartments were the last two in the portfolio of eight that were acquired by the real estate investment firm. The two properties are a combined 315 units nestled in the DFW MSA area conveniently close to major employers such as PepsiCo, L'Oreal, and Proctor & Gamble. The units were purchased in partnership with a local private equity group.
"With our deep knowledge in multifamily acquisitions and renovations, coupled with our innovative way of funding projects we are confident that we will be successful with this portfolio," said Glenn Gonzales, Co-CEO of NAPA. "Our combined 50 years of experience in multifamily and our well-designed business plan is what sets us apart."
With the closing of this portfolio NAPA is set to close two properties in Lake Jackson, TX by the end of Feb. 2017.
NAPA has a strong pipeline of Multifamily & CRE deals with planned off-market acquisitions in all the major markets of Texas.
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SOURCE NAPA Ventures