Fund 1-MFI Spring Pointe
Fort Worth, Texas
Total
Units
Total Units
323
Hold
Period
Hold Period
60 Months
Purchase
Price
Purchase Price
$35M
Invest Equity
Raised
Total Equity Raised (Sponsor)
$22.18M
Target Annual Rate of Return
19.1%
Target Equity Multiple
1.95x
Target Average Cash on Cash
5.5%
Property Photos
Fort Worth, Texas
Investment Overview: MFI Spring Pointe
Acquisition & Strategy
MFI Spring Pointe is a passive investment fund that participated in the acquisition of Copperfield Apartments, a 323-unit multifamily community located in Fort Worth, Texas. Built in 1984 and held by a large private equity owner since 2019, the property was acquired off-market in May 2025 in partnership with an experienced operating sponsor with a vertically integrated operating platform. Following the acquisition, the asset was rebranded as Rise Spring Pointe, aligning with its repositioning strategy and operator branding.
The property was sourced entirely off-market and acquired at $108,359 per unit—more than 38% below the submarket average of $176,838 per unit, according to recent comparable sales.
Even more compelling is the rare opportunity to implement a full-scale value-add strategy across 100% of the units—an increasingly uncommon scenario in today’s environment. Each unit includes existing washer and dryer hookups, enabling an immediate $50–$100 monthly rent premium per unit through appliance installation—with zero infrastructure cost.
This pricing advantage, coupled with operational inefficiencies from prior ownership, strong physical condition, and a low-leverage structure, positions MFI Spring Pointe as one of the most compelling risk-adjusted acquisitions in the DFW metro this cycle.
Value Creation & Market Dynamics
The business plan includes upgrading all units to a proven platinum-level finish—featuring quartz countertops, white shaker cabinetry, stainless steel appliances, modern lighting, and subway tile backsplashes. In-place average rents of $1,046 are projected to increase to $1,349 post-renovation, driving a $303/unit lift across the portfolio.
With strong in-place occupancy of 89.2% and consistent performance across the Sponsor’s DFW portfolio, this property is ideally suited for a smooth renovation rollout. Washer/dryer additions will generate immediate NOI growth and increase leasing velocity, further enhancing value with minimal risk.
Market Analysis
Fort Worth continues to lead the nation in population growth and job creation. Dallas–Fort Worth ranked #1 in the U.S. for population growth and #2 for job growth in 2022. The region benefits from a diversified economy, with no single sector representing more than 21% of total employment—providing resilience against macroeconomic fluctuations.
Rise Spring Pointe sits at the intersection of I-20 and I-35W, offering residents quick access to major employers, including:
- Texas Health Harris Methodist Hospital – 1 mile (1,900+ employees)
- Texas Christian University – 4 miles (2,200+ employees)
- Alcon U.S. Headquarters – 7 miles (4,500+ employees)
The property also benefits from strong school districts, limited new multifamily supply, and proximity to high-traffic retail corridors, all contributing to long-term demand and rental stability.
Financial Performance & Forecast
This investment targets a 1.95x equity multiple over a 5-year hold with projected average annual returns of 19.1%. Investors can expect 5.5% average annual cash flow, supported by a conservative financial structure that includes:
- 61.9% loan-to-value at acquisition
- Interest rate capped at 4.75%
$3.3 million in cash reserves, allowing for uninterrupted operations even in the event of short-term occupancy dips
Key Investment Metrics
- Acquisition Price: $35,000,000
- Equity Raised: $22,181,561
- Equity Multiple: 1.95x
- Average Annual Return (AAR): 19.1%
- Internal Rate of Return (IRR): 15.3%
- Avg. Annual Cash Flow: 5.5%
- Minimum Investment: $50,000
Conclusion
MFI Spring Pointe represents a high-conviction opportunity to capitalize on favorable pricing, scalable renovations, and strong market fundamentals in one of the most dynamic metros in the country. With institutional sponsorship, a vertically integrated management platform, and a business plan backed by performance data, this investment is engineered to deliver attractive, risk-adjusted returns and long-term value creation.
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