Below is a great update for the APEX apartments in Fort Worth, Texas, which is part of the CalTier Fund 1 portfolio of participating assets.
Occupancy has remained near 95% since late 2023, and the property management team is working diligently to improve collections.
To date, renovations have been completed on 122 of the 152 units (more than 80%). The remaining 30 units are anticipated to be completed by the end of May. The new playground was completed and installed in March.
The exterior renovations have also been completed. These included sealing and painting all wood trim to protect it from the elements, adding a new sign, and installing a new community playground.
These upgrades helped the property outperform the local market from an occupancy and pricing perspective, despite the current economy’s heavy headwinds. Occupancy at the beginning of December was 88.2 percent and is 96.1 percent as of this update.
If you have yet to invest in our portfolio fund, CalTier Fund 1, check it out. The first investment minimum is $500; you can make additional investments for only $50. As always, we encourage you to read the offering circular for more details.
