Lewisville, TX – August 19, 2024 – Momentum Real Estate Partners, LLC (“Momentum”) proudly announces the sale of Provenza at Windhaven, a 324-unit Class A property located at 4900 Windhaven Parkway in the thriving Castle Hills submarket of Lewisville, part of the greater Dallas-Fort Worth metro area. This sale underscores Momentum’s effective management and strategic approach to enhancing property value in competitive markets.
Mauricio Gruener, Co-President and Co-CEO of Momentum, stated, “The sale of Provenza at Windhaven reflects our commitment to delivering positive outcomes through proactive management and strategic property improvements. The property’s prime location and the enhancements we implemented were instrumental in navigating the market and achieving a terrific result for both Momentum and the buyer.”
Provenza at Windhaven, completed in 2015, was acquired by Momentum in June 2016. The property underwent a strategic upgrade program during the investment period, including a full repaint of the exterior and rebranding under the Provenza moniker. These improvements, combined with the property’s desirable location in Lewisville—a rapidly growing area within the Dallas-Fort Worth metroplex—contributed to the property’s performance and successful sale.
Momentum Real Estate Partners has been investing in multifamily assets since 2009, with a focus on markets exhibiting economic and population growth. Over the years, Momentum has completed 21 acquisitions, positioning the company as a growing player in the multifamily real estate market.
In addition to Provenza at Windhaven, Momentum’s recent activities include the acquisition and enhancement of several other high-quality assets. These include properties in key markets such as Florida and Tennessee, where the company has implemented various strategies to improve performance and deliver returns for investors. The success of these projects demonstrates Momentum’s ability to identify and capitalize on opportunities in dynamic and growing markets.
Recently, Momentum raised $140 million for its Fund IV, which currently includes three assets in Florida and Tennessee, totaling 679 apartment units. Fund IV is actively pursuing additional acquisition opportunities, with a focus on properties that offer potential for value creation through strategic asset management and improvements. Building on the success of Fund IV, Momentum is preparing to launch the fundraising effort for Fund V in the coming year. Fund V will continue the company’s focus on acquiring and enhancing multifamily properties, building on the legacy of its predecessor funds.
About Momentum Real Estate Partners, LLC
Based in Miami, Florida, Momentum Real Estate Partners, LLC has made a substantial mark over the past decade in the real estate industry, with transaction volume across major U.S. markets amassing a total of $1.6 billion in property value. Since its founding, the company has acquired 21 projects, totaling approximately 5,373 residential units spread across 15 dynamic cities. Delve into their story at momentumrep.com.
?Disclaimer: INVESTING CARRIES SIGNIFICANT RISKS. PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. THIS STATEMENT IS NEITHER AN OFFER TO BUY OR SELL SECURITIES NOR A RECOMMENDATION. KINDLY REFER TO OUR PRIVATE PLACEMENT MEMORANDUM FOR ESSENTIAL INFORMATION AND DISCLOSURES..
