Oden Hughes Sells Apartment Complex in Ft. Worth

Austin, Texas — Austin-based developer Oden Hughes and its partner White-Conlee Builders have sold the Republic Deer Creek apartment community to Miami-based Pensam Capital.

Located just off Interstate 35W in southern Ft. Worth, Texas, the 336-unit complex is highly visible and accessible to all major business centers in Tarrant County.

“Republic Deer Creek is strategically located on I-35 and experienced an extremely fast lease up in an underserved market,” said Steve Oden, principal with Oden Hughes. “The property was designed to accommodate the majority of the leasing market with lease rates that are competitive with older products.”

Started in late 2010 and completed in early 2012, Republic Deer Creek was one of the first multifamily communities built after the recent global financial crisis.

Republic Deer Creek apartments range in size from one to three bedrooms. Amenities include a pool, walking trails, bocce ball courts and a dog park.

HHF’s Bill Miller and Roberto Casas were the brokers for the seller in the transaction.

“Republic Deer Creek has a diverse unit mix that caters to existing and potential tenants in a strong school district in suburban Fort Worth,” said HFF senior managing director Miller. “The transaction was a success for both parties.”


Media Coverage

Fort Worth Business Press, 3/4/2013, 'Republic Deer Creek Apartments Sold'

Republic Deer Creek Apartments in south Forth Worth has been sold to Pensam Capital LLC, a Miami-based real estate investment firm.
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Star Telegram, 3/10/2013, 'Home prices for 3rd quarter up in Fort Worth metro area'

Average home prices rose 1.1 percent in the Fort Worth metro area in the third quarter of 2012 compared with last year. Prices are expected to rise 0.9 percent more by the third quarter this year according to the latest quarterly Fiserv Case-Shiller Home Price Index.
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Texas A&M Real Estate Center, 3/5/13, 'Republic Deer Creek Sold'

Austin-based Oden Hughes, LLC and its partner White-Conlee Builders have sold an area apartment complex to a Miami investor.
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Globe St., 3/5/13, 'Oden Hughes Bids Farewell to Sole Fort Worth Holding'

A handful of year after completing – and delivering – the 366-unit Republic Deer Creek apartment complex, partners Oden Hughes LLC of Austin and partner San Antonio-based White-Conlee Builders sold the class A complex to Pensam Capital of Miami, Fl.
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Austin Business Journal, 5/6/13, 'Real estate roundup: Industrial sales, leases dominate'

Austin-based developer Oden Hughes LLC and its partner White-Conlee Builders sold the Republic Deer Creek apartment community in Fort Worth to Miami-based Pensam Capital.
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Costar Group, 3/7/13, 'Miami Group Finalizes Purchase of Fort Worth Multifamily'

Pensam Capital, a Miami-based investment group, acquired the 336-unit Republic Deer Creek apartment complex in Fort Worth, TX, from Oden Hughes LLC and its partner White-Conlee Builders.
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