Quannah Partners Acquires Second Build-for-Rent Community- 56 Units in Waxahachie, Texas
June 18, 2021
Today Quannah Partners, in a co-GP joint-venture with VaultCap Partners, acquired, in an off-market transaction, The Townhomes at Bluebonnet Trails, the first phase of a 114-unit townhome rental community located at 168 Verbana Drive, Waxahachie, TX. Phase I contains 56 units and was delivered in 2020, featuring all two-story units containing high-end boutique three (3) bedroom, two and a half (2.5) bath townhomes with attached two-car garages and 9-foot ceilings. Phase II is currently under construction and Quannah and Vaultcap retain an option to acquire the second phase of the rental community upon delivery and stabilization. This investment represented an off-market transaction for a cash-flowing property with an attractive acquisition structure in a growing bedroom community of south Dallas/Ft. Worth. Quannah and VaultCap partnered with Freddie Mac as the lender.
About Quannah Partners - Quannah Partners is a private equity commercial real estate investment firm headquartered in Denver, CO and is actively pursuing direct and co-GP investment opportunities across Texas and Colorado in industrial, multifamily, office, and retail properties.