CRG Sells Forth Worth Community

American Landmark Apartments acquired the 242-unit asset.

CRG has sold Broadway Center, a 242 - unit community in Fort Worth, Texas, to American Landmark Apartments . Senior Vice President Joey Tumminello of Institutional Property Advisors brokered the transaction.

Broadway Chapter was the first community to be developed as part of CRG’s $1 billion residential development strategy that launched in 2020. The developer funded its construction with a $24.3 million loan originated by Wheaton Bank and Trust , according to Yardi Matrix data. The project team included Cadence McShane Construction , Lamar Johnson Collaborative and Shanna Noelle Khan, who also acted as principal equity investor.

Completed in 2021, the five-story building encompasses studio, one- and two-bedroom apartments, including 15 lofts with 20-foot ceilings. Common-area amenities include a swimming pool, a fitness center, a resident lounge, grilling stations, a dining area, a fire pit and and secure bike storage, as well as a 93,000-square-foot parking garage.

Situated on 2 acres at 401 Hempfill St., the property is close to downtown Fort Worth in Near Southside neighborhood, a hub for the city’s medical district, and less than 1 mile from a 390-unit community that recently traded. Dining and retail options are available in the surrounding area, along South Main Street.