NAPA Ventures has sold four Dallas-based properties--Westwood Apartments, Ravenwood Apartments, Oates Creek Apartments and Brandon Mill Apartments.

Combined these units make up roughly 700 of NAPA's almost 4000-unit portfolio, and are the latest sales completed by the real-estate investment firm.

"As simple as it sounds, we executed our business plan and sold the assets," said Glenn Gonzales, Co-CEO of NAPA. "A hot Dallas market coupled with years of experience has led us to great success here."

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NAPA's business plan going in was to renovate the exterior of buildings and interior units of each property to increase profitability and provide a great living experience for its residents. These updates include a tremendous improvement to amenities, makeover of landscaping, parking lots, exterior paint and upgrading the exterior lighting. Interior unit renovations include: upgrades to countertops, cabinets, floors, two-tone paint, and trendsetting black appliances.

"We do three things very well – we find value where others can't, fix things that are broken and make our equity partners happy. That is what we did here," said Shravan Parsi, Co-CEO of NAPA. "NAPA planned to exit the properties in three to five years, however, we exceeded our three-year projected returns and exited the deal.”

With the disposition of Ravenwood, Oates Creek, Brandon Mill and Westwood, NAPA plans to sell its 650-unit Montecito Creek Apartment Homes in Mesquite, Texas, and its 159-unit Pleasant Creek Apartments in Lancaster, Texas early this year.

NAPA has a strong pipeline of Multifamily & CRE deals with planned off-market acquisitions in all the major markets of Texas.