Multi-family Value Add Acquisition
Broadway / Stoneside - 116 units
Broadway/ Stoneside is a 116-unit portfolio located in Kansas City's Northland Submarket. The assets are conveniently located just off 169 Highway and are minutes away from nationally anchored restaurants and retail. Extensive capital improvement projects were implemented immediately after acquisition. With these improvements in place and the ideal location of the real estate, additional value for this investment is being realized through interior unit upgrades. |
Villages at Wake Forest - 64 units
Located across the street from Wake Forest University in North Carolina, the Villages at Wake Forest is a student housing community with 64 units and 251 beds. The units are predominantly cottage-style 4 bedroom/ 4 bathroom with a few single family homes that have been renovated to provide equal bed-bath parity. In order to maximize value, the operators increased rents to already proven market levels. With strong University and neighborhood support, additional beds were built to meet the growing shortage of off-campus housing. |
Estates at Las Collinas, Dallas/ Fort Worth - 415 units
The Estates at Las Collinas are located in Las Collinas - a centrally located, upscale submarket in the Dallas suburb of Irving, Texas with close proximity to several major employment centers, including Verizon, McKesson's global headquarters, and the Four Seasons Resort and Club. As a 12,000 acre master-planned business and residential community, the Estates attracts affluent renters. While the Estates is an exceptionally well-maintained institutional asset, its interiors do not meet the demands of the affluent residents that Las Collinas attracts. Through interior upgrades as leases turn, the asset will meet market demand for a higher quality product. |
Four Corners, Frisco, TX - 390 units
Located in the Dallas-Fort Worth area ("DFW MSA"), Frisco's population has increased over 430% since 2000 and consistently ranks among the fastest growing cities in the U.S. Constructed in 2016-2019, Four Corners is situated on 21 acres of land. The property's amenities include a resort-style pool, dog park, fitness center, billiard room, and business center. After completing the first phase of the project (203 units), the seller, who was also the developer, commenced construction of the property's second phase but encountered major cost overruns and was unable to complete the project. By taking over the development, this multi-family asset will meet market demand. |