The Falls Apartments is acquired by NAPA Ventures

July 2, 2017 by  

The Austin, Texas based NAPA Ventures, a company that deals in commercial and multifamily real estate investment, has recently announced that it has closed on The Falls Apartments here in Dallas.

The Falls is the first Dallas investment that NAPA has closed on this year, and the third closing for the company in the last three months. In addition to 208 apartments and many amenities, a leasing office is also included in the Dallas property.

NAPA Co-CEO Shravan Parsi provides insight into the company’s business strategy:

“The closing of this asset increases our footprint in Dallas which has been a strategic move since the beginning. We now have 10 total assets in DFW MSA under ownership.”

The business strategy NAPA plans to employ will include the renovation of the interior and exterior of their newly acquired property, located just off the Lyndon B. Johnson Freeway. The renovations and updates will have the dual goals of creating for residents a more pleasurable living experience and raising the complex’s profit margin.

Outside plans for The Falls Apartment complex include updating the landscaping redoing the parking lots and pool decks and painting. Inside individual units will be treated to higher quality cabinets, countertops, and floors. Additionally, new updated appliances will be installed.

Once finished, the resulting changes will be captured in pictures and with the help of a local brochure printing service used to promote the Falls.