Bridge Tower Partners Exits Brooklyn Village, a premier Build-for-Rent Community, in Forney, Texas

FORNEY, Texas, Jan. 25, 2022 /PRNewswire/ -- Dallas-based Bridge Tower Partners announced today that it has exited Brooklyn Village, a 179-unit, upscale Build-for-Rent (BFR) community located in Forney, TX, one of the fastest-growing cities in North Texas. The development, twenty-one miles east of downtown Dallas began in 2016, stretches across forty-one acres with 324,000 rentable square feet.

Bridge Tower Partners developed the project, raised capital, leased and property-managed Brooklyn Village since its inception. Bridge Tower worked closely with Camden Homes, the general contractor for the development. Jackson Su, the Managing Partner of Bridge Tower, commented on the project, "We want to thank everyone with the City of Forney who had the foresight to see the advantages of the Single-Family-For-Lease model which has benefitted the city and our surrounding neighbors. The City of Forney allowed us to demonstrate that their vision of affordable housing can also be an upscale Class-A leased community with professional management. I want to thank the City of Forney, our residents, and our neighbors for trusting our company's mission and reputation for maintaining clean and safe neighborhoods that residents are proud to call home. Unfortunately, the life of the fund holding Brooklyn Village has come to an end, but we are grateful we had the chance to create such a unique community and the opportunity to serve our residents".

Brooklyn Village has consistently outperformed its projections, occupancy, and tenant satisfaction. "We are confident the new management company will continue to use Bridge Tower's model to operate a successful community. I wish our residents all the best, and I will hold dear our everyday casual conversations", says Alissa Zmolik, Brooklyn Village's Community Director.

Brooklyn Village is an upscale single-family detached community catering to young families, millennials, and seniors alike. The community consists of 47 three-bedroom, two-and-a-half-bathroom homes with an average of 1,700 square feet and 132 four-bedroom, two-and-a-half-bathroom homes with an average of 1,850 square feet. Each home features luxury vinyl plank floors, granite countertops, a two-car garage, a private backyard surrounded by trees, and a community walking trail leading to a city park and surrounding neighborhoods.

Blank Rome LLP serves as the Fund's legal counsel.

About Bridge Tower Partners
Bridge Tower is a vertically integrated real estate company focused on U.S. residential real estate with disciplines in acquisition, development, construction, property management, and leasing. Bridge Tower was founded in 2013 to provide high-quality homes and communities for families and individuals with the objective to hold these assets over the long term. The company's adage, "Achieving More, Together" collectively speaks to our residents, neighbors, community leaders, and our colleagues.

Contact:
Maria Soriano
[email protected]

SOURCE Bridge Tower Partners