Colorado real estate developer acquires historic Fort Worth home and apartments
McWhinney, a national real estate investor and developer with expertise in commercial, apartment buildings, hospitality, residential and mixed-use, announced on March 15 that it has partnered with Lightning Tree Capital LLC. to acquire and operate Kelley on Samuels Avenue, an upscale development of 353 luxury apartments and three story townhouses with extensive amenities in downtown Fort Worth.
A subsidiary of Lightning Tree Capital, LLC. bought Kelley on Samuels Avenue and hired McWhinney to run the three-year-old community. The terms of the transaction were not disclosed. The sale was brokered by Drew Kile with Institutional Property Advisors.
Opened in 2018, Kelley on Samuels Avenue elegantly combines contemporary urban luxury with timeless charm. The Kelley apartment buildings have open floor plans, kitchens with granite and quartz countertops and stainless steel appliances, and luxurious bathrooms with two vanities and soaking tubs. Amenities include an infinity pool, a fitness center with yoga and spin studios, a full-service tech lounge, a dog park and dog wash, and a bike shop with storage room.
The 10 acre project overlooking the Trinity River north of downtown Fort Worth is also home to the landmark Garvey House, known as the “Queen of the Trinity.”
“We’re excited to announce that at Samuels, Kelley is the first of hopefully many multi-family projects in Texas,” said David Jaudes, McWhinney senior vice president of multi-family development. “Our company’s investment philosophy of building, buying and operating multi-family homes over the long term fits in well with the exciting growth in Fort Worth.”
Garvey House is a Victorian house owned by Queen Anne that was built for Lulu Foster Garvey and William B. Garvey in 1884-1885. Mrs. Garvey was the granddaughter of Baldwin L. Samuel, an early settler in Fort Worth.
San Antonio-based Embrey Partners received the Multifamily Executive Magazine Merit Award’s 2019 Merit Award for garden-style walk-up for its Kelley on Samuels Avenue in Fort Worth.
The Dallas-Fort Worth area experienced severe weather conditions in February as temperatures dropped below zero for several days. McWhinney donated 150 meals to a local heat house in Fort Worth to help displaced people and to express their gratitude to volunteers. “McWhinney cares deeply about the communities in which we do business and we feel fortunate to have had the opportunity to extend meals to those who have been temporarily evicted,” said Stephanie Brock, senior vice president of multi-family businesses at McWhinney.
McWhinney, based in Colorado, is a national development, management, and investment company dedicated to creating new lifestyle communities, creating vibrant, mixed-use spaces, and creating new experiences for residents, employees, and visitors with that you can connect and enjoy.
McWhinney has completed or under construction more than 4,000 residential units. Other current projects include PARK40, a development of 313 condominiums currently for rent in Baseline’s new planned community in Broomfield, Colorado, and Clovis Point, which has 208 modern condominiums in Longmont, Colorado for rent. McWhinney Austin also has a Hyatt Centric boutique hotel under construction with 246 keys, expected to open in early 2022. www.mcwhinney.com