A California real estate company has a new stake in Fort Worth apartment property. Los Angeles-based Cottonwood Group acquired the Woodstone Apartments, 6051 Bridge St., and Bridge Hollow Apartments, 5801 Bridge St. The apartment portfolio in east Fort Worth is made up of 480 multifamily units.

“Given supply and demand dynamics, Cottonwood remains bullish on the multifamily sector overall, especially in markets that offer a combination of job growth, an attractive climate, and relatively low living costs like Fort Worth,” Cottonwood’s chief investment officer Mark Green said. “Cottonwood Group’s multi-strategy approach means the firm will look at any primary or growth market inside and outside of Texas.” Cottonwood acquired the property in partnership with Dallas-based Texsun Holdings. Earlier this year, Cottonwood partnered with the private equity firm for two multifamily assets in San Antonio.

“We are thrilled to complete another transaction with Texsun and to add such a high-quality asset to our Texas portfolio,” Green said in a release. “While other traditional investors may be pulling back due to economic and market uncertainty, we remain bullish on the multifamily sector.” Both firms budgeted $5 million for renovation and repositioning of the Fort Worth properties, which total 342,000 square feet of real estate. The renovation investment will go towards interior and amenity upgrades, according to Cottonwood. Click to read more at www.star-telegram.com.