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Sunday, April 11, 2021

Colorado real estate developer acquires historic Fort Worth home and apartments

McWhinney, a national real estate investor and developer with expertise in commercial, multifamily, hospitality, residential and mixed-use assets, announced March 15 it has partnered with Lightning Tree Capital LLC. to acquire and operate Kelley at Samuels Avenue, an upscale development featuring 353 luxurious apartments and three-story townhomes with extensive amenities located in uptown Fort Worth. 

An affiliate of Lightning Tree Capital, LLC. purchased Kelley at Samuels Avenue and has appointed McWhinney to operate the three-year-old apartment community. Terms of the transaction were not disclosed. The sale was brokered by Drew Kile with Institutional Property Advisors. 

Opened in 2018, Kelley at Samuels Avenue elegantly combines contemporary urban luxury with timeless charm. Kelley apartment homes feature open floor plans, kitchens with granite & Quartz countertops and stainless steel appliances and luxurious bathrooms with dual vanities and soaking tubs. Amenities include an infinity-edge pool, a Fitness Center with yoga and spin studios, a full-service tech lounge, a dog park & dog wash and a bike shop with storage. 

The 10-acre project – which overlooks the Trinity River just north of downtown Fort Worth – is also home to the landmark Garvey House, which is known as the “Queen of the Trinity.” 

“We are excited for Kelley at Samuels to be the first of hopefully many multifamily projects in Texas,” said David Jaudes, Senior Vice President of Multifamily Development at McWhinney. “Our firm’s investment philosophy of building, buying and operating multifamily properties for the long-term is a good fit with all the exciting growth in Fort Worth.” 

The Garvey House is a Queen Anne Victorian home was built for Lulu Foster Garvey and William B. Garvey in 1884-1885. Mrs. Garvey was the granddaughter of Baldwin L. Samuel, an early Fort Worth settler.

San Antonio-based Embrey Partners received the 2019 Multifamily Executive Magazine Merit Award for Garden-style Walk-up for its Kelley at Samuels Avenue development in Fort Worth.

The Dallas-Fort Worth area experienced severe weather conditions in February as temperatures dropped below zero for several days. McWhinney donated 150 meals to a local Fort Worth warming shelter to assist displaced residents and express gratitude to the volunteers. “McWhinney cares deeply about the communities in which we do business, and we feel fortunate to have had the opportunity to extend meals to those who were temporarily displaced,” said Stephanie Brock, Senior Vice President of Multifamily Operations at McWhinney. 

Colorado-based McWhinney is a national development, management, and investment company that is committed to launching new lifestyle communities, developing vibrant mixed-use places and crafting new experiences for residents, employees and visitors to connect with and enjoy. 

McWhinney has more than 4,000 apartment units completed or under construction. Other current projects include PARK40, a development of 313 apartment homes that is leasing now at the new Baseline master-planned community in Broomfield, Colo., and Clovis Point, which features 208 modern apartment homes now available for lease in Longmont, Colo. McWhinney also has a 246-key Hyatt Centric boutique hotel under construction in Austin that is anticipated to open in early 2022. www.mcwhinney.com

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Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

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