REBusinessOnline

Pearlmark, Sinatra Buy 340-Unit La Jolla Apartments in Fort Worth

FORT WORTH, TEXAS — A partnership between Chicago-based investment firm Pearlmark and Buffalo-based Sinatra & Co. Real Estate has acquired La Jolla Terrace, a 340-unit apartment community in Fort Worth. Built in 1984, the property was 97 percent occupied at the time of sale and features one-, two- and three-bedroom units. Amenities include a pool, fitness center and a playground. The new ownership will implement a value-add program that will upgrade unit interiors and exterior amenity spaces. The seller and sales price were not disclosed.

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