Lenders Offload Two Distressed DFW Apartment Complexes

Two distressed multifamily properties in North Texas recently traded hands.

The 152-unit Apex Apartments in Fort Worth and the 149-unit Residences at White Rock Lake in Dallas sold last month, according to a press release issued last week by Colliers, which brokered both deals. Both properties had undergone foreclosure auctions in the preceding months.

TC Beck LLC, a subsidiary of New York-based Trevian Capital, sold the Residences at White Rock Lake at 9312 Beck Avenue in Dallas to Residences at White Rock Lake LLC, a company registered to Argyle, Texas-based Ironridge Capital principal Erik Strom, according to public records. The final sale price was not disclosed. Built in 1970, the complex spans 13 buildings totaling 113,186 square feet over 5.3 acres off North Buckner Boulevard, southeast of White Rock Lake.

CAF REO Antigua LLC, an arm of Mill Valley, California-based Redwood Trust, sold Apex Apartments at 5320 East Rosedale Street in Fort Worth to Plano-based Ninety9 Capital, public records show. The 10-building, 134,800-square-foot apartment complex, built in 1968, occupies 7 acres west of Rosedale’s intersection with Loop 820 near Lake Arlington.

The previous owner of the Residences at White Rock Lake, a Dallas investor named Chander Mishra, borrowed $10.8 million from Trevian to buy the property in March 2024, according to public records. After the loan matured in October 2025, Trevian bought the property at a foreclosure auction for $8.5 million in February, or about $57,000 per unit, according to a trustee’s deed.

The Fort Worth property has a similar history. Apex Property Company LLC, linked to Henderson, Nevada-based real estate investment trust Camino Verde Group, executed a $12.8 million loan from Irvine, California-based lender CoreVest Finance in 2022, according to public records. A CoreVest LLC bought the property at a foreclosure auction for $12.5 million, or about $82,000 per unit, and sold it to Redwood’s LLC for an undisclosed price in October 2025, according to Tarrant County deeds.