Vukota Real Estate Acquires Bridgeport Apartments in Irving, Texas
08 August, 2017
August 8, 2017 – Vukota Real Estate is pleased to announce the acquisition of Bridgeport Apartments, a 312-unit apartment building located in Irving, Texas.
Bridgeport Apartments is located at 4111 Polaris Drive, in Irving, Texas. The property is situated between Dallas and Fort Worth, and has direct access to SH-161 enabling residents to navigate all the thoroughfares throughout the Dallas/Fort Worth Metroplex. The property is adjacent to DFW International Airport, the third busiest airport in the world, which services 175,000+ passengers a day, employs 228,000+ employees, and has an economic impact of over $37 billion annually.
Residents of the property are near one of the most retail abundant areas in the Metroplex, Las Colinas business district, which is home to 30 Fortune 500 companies, 2,000+ companies, and a workforce of 120,000+ people. In addition, the property is near Irving Mall, which includes over 1 million square feet of retail space.
One of the most compelling attributes of Bridgeport Apartments is the ability to add revenue through a market-supported value-add program. To date, 23% of the units have been renovated. Additionally, the property has exhibited a strong leasing trend over the past 12 months with effective rents increasing 7% while occupancy has averaged over 95%.
Currently, Vukota Real Estate and its subsidiaries own/manage 3,000+ apartment units.