CRG Completes Quick Sale of 242-unit Broadway Chapter apartments in Fort Worth, TX to American Landmark Apartments

  

 Shanna Noelle Khan 

FORT WORTH, TX — CRG, the national real estate development and investment firm, has completed the sale of Broadway Chapter, a five-story, 320,646-square-foot, newly-constructed rental community with 242 apartments at 401 Hemphill St. in Fort Worth’s Near Southside district. 

Joey Tumminello

American Landmark Apartments, a Tampa, Fla.-based real estate investment group focused on multifamily, office and industrial assets, purchased the property on June 6. 

Joey Tumminello, senior vice president of Institutional Property Advisors in Texas brokered the sale.

 Completed in July 2021, Broadway Chapter is the first multifamily development delivered as part of CRG’s $1 billion residential investment strategy, which it announced in November 2020. 

The firm aims to develop high-quality multifamily housing for middle-income earners in first- and second-ring suburbs in select urban markets throughout the Sun Belt.

 Broadway Chapter, a five-story, 320,646-square-foot, newly-constructed rental community with 242 apartments at 401 Hemphill Street in Fort Worth’s Near Southside district

Design specialist and executive Shanna Noelle Khan worked with architect Lamar Johnson Collaborative (LJC), to create a mix of studio, one- and two-bedroom apartments, including 15 one-bedroom lofts boasting 20-foot ceilings.

Resident amenities include secure bike storage and a five-story, 93,000-square-foot parking garage that features a 5,000-square-foot mural created by North Texas artist Eric ‘Drigo’ Rodriguez.

Eric ‘Drigo’ Rodriguez

 “American Landmark Apartments is a leading investor in the multifamily sector and its acquisition of Broadway Chapter is a testament to the soundness of our national residential strategy to deliver high-quality housing to middle-income earners in the top-tier neighborhoods of rapidly growing Sun Belt cities,” said J.J. Smith, CRG managing partner, residential. 

“CRG’s vertically integrated planning-design model allowed us to nimbly and efficiently deliver a superior residential development that stabilized in under a year, resulting in a solid return for our investors.”

J.J. Smith

 Broadway Chapter is ideally positioned in Fort Worth’s Near Southside district, a mixed-use, walkable urban neighborhood located less than one mile from the city’s downtown that serves as a hub for more than 70 creative design firms, along with the city’s medical district where the area’s largest hospitals are located.

 

Construction was completed by Dallas-based Cadence McShane Construction, a full-service builder specializing in the education, multifamily, senior living, commercial, and industrial market sectors.

About Shanna Khan:

Shanna Noelle Khan is the newly elected President of the Urbana Golf & Country Club, which operates an 18-hole Tom Bendow-designed private golf course and related hospitality facilities in Champaign-Urbana, Illinois.

 

     Urbana Golf & Country Club

Combining her real estate design proficiency with business acumen, Ms Khan advised on and implemented the Club’s recent world-class resort, spa and country club renovations. 

From formation until its January 2022 business combination with Sky Harbor, LLC, Ms Khan was an independent director of Yellowstone Acquisition Company (Nasdaq:YSAC). 

Shanna holds a Bachelor of Science in Accountancy degree from the University of Illinois at Urbana-Champaign. 

She is a director of the Jacksonville Jaguars Foundation, a charity providing strategic financial, networking, and volunteer support benefitting economically and socially disadvantaged youth and families in Jacksonville Florida;

Also: a director of the Khan Foundation, Inc., a charitable purpose foundation; and serves on the Development Board at PAWS Chicago, a non-profit animal shelter organization based in Chicago, Illinois.

Ms Khan oversees the largest equity stakes in (i) the Jacksonville Jaguars, a professional football club which operates an NFL team in Jacksonville, Florida; (ii) Union Jax, a sports promotion business which operates in London, England; (iii) Bold Events, which operates Daily’s Place Amphitheater, Jacksonville, Florida’s premier outdoor entertainment venue; 

Daily’s Place Amphitheater, Jacksonville, FL

She also has investment interests in (iv)Four Seasons Hotel Toronto, a 259-suite five star luxury Four Seasons hotel in Toronto, Ontario; (v) Fulham Football Club, an English Premier League soccer club in London, England; (vi) Flightstar, an aviation management service located at Willard Airport in Savoy, Illinois; and (vii) Urbana Golf & Country Club. 

Ms Khan is also a key investor in a 262-room Virgin Group branded hotel in Nashville, Tennessee and numerous other domestic and international businesses, including global automotive component manufacturer Flex|N|Gate Group.

 

CONTACTS:  

Amanda Cienkus

 acienkus@taylorjohnson.com

(312) 267-4524

Gretchen Muller

 gmuller@taylorjohnson.com

 (312) 267-4511

realcrg.com. 

www.cadencemcshane.com. 

www.theljc.com.