DALLAS, TX - Cushman & Wakefield announced that the commercial real estate services firm has arranged the sale of Forum at Grand Prairie, a 304-unit multifamily community located in Grand Prairie, Texas.
Asher Hall and Grant Raymond of Cushman & Wakefield represented an undisclosed seller in the transaction. The community was acquired by Clearworth Capital.
"Forum at Grand Prairie provided a unique, first-generation value-add opportunity in one of the strongest multifamily markets in the metroplex. This acquisition outlines the outlook for Dallas-Fort Worth multifamily investments as we head into 2025. The broader capital market environment remains robust, as debt and equity are readily available, and overall sentiment is outstanding for well-located real estate in growth areas throughout top-tier markets like Grand Prairie,” said Hall, Senior Director at Cushman & Wakefield.
Located at 2650 Forum Dr., Forum at Grand Prairie offers residents a convenient 25-minute commute to both Dallas and Fort Worth employment hubs, providing easy access via major highways such as I-20 & I-30. The city of Grand Prairie is also home to significant corporate and educational employers and offers a vibrant community atmosphere with various parks, entertainment venues, and other recreational amenities that make the Forum at Grand Prairie multifamily community a strategically positioned property and a top choice for families and professionals alike.
"Grand Prairie has seen remarkable growth in recent years, as highlighted by the 10.1% rise in rents over the past three years. This growth surge is expected to continue, with a projected population increase of 4.5% in the next five years, positioning Grand Prairie as a top submarket in the Dallas-Fort Worth area for rent growth, and strong absorption rates,” added Raymond, Senior Director at Cushman & Wakefield.
Cushman & Wakefield’s Sunbelt Multifamily Advisory Group is a 100-person investment sales team covering 15 states with No. 1 multifamily market share in that region based on sales volume and transactions reported to CoStar. Per Cushman & Wakefield, in 2024, the group has closed $4 billion in sales volume through 145 deals and 24,000 units. For more information about the Sunbelt Multifamily Advisory Group, visit multifamily.cushwake.com