Richardson, TX - 11/30/2018 – Boulder Peak Capital acquired the Foundation at CityLine (FKA “Pepper Place Apartments”) at the end of November and will implement a comprehensive renovation to the property that was originally constructed in 1979.
“The property represents an opportunity for us to make a positive impact to the tenants and local community by addressing the deferred maintenance, offering great service and improving the amenities at a property that is situated among some of the best-in class residential, office, retail, and entertainment venues throughout all of DFW,” said Zack Montana, Managing Partner at Boulder Peak Capital.
Foundation at CityLine is a garden style multi-family community situated on 5 acres at the corner of Custer Parkway and Renner Road, approximately one mile from the State Farm anchored CityLine development and ten minutes southeast of the new Legacy West development. The 88-unit, 11 building complex offers one- and two-bedroom units in a low density setting with mature trees and immediate access to the Renner Trail and Custer Park.
“The property sits adjacent to two large publicly traded employers [Qorvo and Texas Instruments], is just west of the State Farm campus, is zoned for Plano ISD schools, and is surrounded by high-end single-family homes.” Said Montana. “Being a 23-year north Texas resident, I couldn’t be more excited about the location and the potential this property has once our team takes over and begins to implement the physical and operational improvement plan”.
Boulder Peak Capital will complete the renovation within the next twelve months, and aims to acquire three or four more properties in DFW over that same time.