Dominium Acquires Forest Park Apartments

Property News

The housing developer recently closed on the 140-unit property which is the first acquisition for the company in the Bryan-College Station area.

Dominium, a leading affordable housing owner, developer and manager, announced today the acquisition of Forest Park Apartments located in Bryan, Texas. This rent-restricted property is Dominium’s first acquisition in the Bryan-College Station metro area. Dominium is renaming the property Sandy Creek Apartments.

This apartment community was constructed in 2005 and financed through 9% low-income housing tax credits. Dominium will be conducting a full rehabilitation in 2022 to enhance the apartment interiors and property amenities.

“Dominium is excited about the opportunity to expand its portfolio into the Bryan-College Station area,” said Jeff Spicer, Vice President and Project Partner at Dominium. “This new acquisition will provide much-needed affordable family and workforce housing.”

The acquisition of this property was fully financed with a loan from Polaris Capital. Winthrop and Weinstine and Heritage Title Company also provided assistance and support on this project.

Dominium is grateful for these and many other partners who worked on the closing of these transactions, and those who will be assisting in the construction and operations efforts in the future.