Case Studies | Overwatch Fund

BELLA MADERA

Bella Madera is a 328 unit multifamily property located in San Antonio, Texas. Built in 2006, this property was 94% occupied at acquisition. San Antonio is one of America’s fastest growing cities with many exciting projects to maintain the economic growth.

This property was purchased in October 2019 and sold in September 2021 for an annual return to our investors of 31%.

Corpus Christi Portfolio

This investment was purchased as a portfolio of 5 multifamily properties in September 2020. All the properties are located in Corpus Christi with a total of 614 units. This is a value add opportunity that was 93% occupied at the time it was acquired. Corpus Christi has great growth potential due to the improvement in the Port and new refinery.

This portfolio was purchased in September 2020. The Ocean Palms property sold in December 2021 and the Baytree property sold in January 2022 returning 91% of investor equity.

DESOTO WAREHOUSE

This property was strategically purchased in January of 2020. Very well located in the I-20 Corporate Center in Desoto, Texas (southern Dallas) convenient to I-20, I-35 and I-45. The warehouse is very well maintained and has both office and warehouse space with almost 400,000 square feet. At acquisition, it was 95% leased to a single tenant.

This property was purchased in January 2020 and sold in December 2021 for an annual return to our investors of 52%.

ENCORE CROSSINGS

This property was purchased in March 2020 and sold in July 2022 for an annual return to our investors of 31%.

PARKVIEW APARTMENTS

Parkview is a 224 unit multifamily project located in Corpus Christi. Built in 1969, this property was 88% occupied at time of acquisition. With the average market rent almost $70 per unit below market, we expect very favorable year over year growth. This property is strategically located in Corpus Christi, blocks away from Oso Bay, Oso Beach and Golf Course, La Palmera and Ocean Drive.

Corpus Christi has several notable projects including ship channel expansion, Harbor Bridge improvement and the development of the Cheniere Energy facility promoting growth in the area.

This property was purchased in March 2019 and sold in January 2021 for an annual return to our investors of 21%.

RIDGE AT GREENHAVEN

Ridge at Greenhaven is a 191 unit multifamily property located in Goodlettsville, TN, a suburb of Nashville. At the time of purchase, the property was 94% occupied with average rent 10% below market. It was completed in 1998 and expanded in 2005, the average unit size is 789 square feet.

Nashville is one of fastest growing cities in the US and has the lowest unemployment rates and highest job growth rates.

This property was purchased in June 2019 and sold in February 2021 for an annual return to our investors of 36%.

VISTA DEL REY

Vista Del Rey was purchased in October 2019. Well located in northwest San Antonio, close to many employers and tourist activities. This gated community was built in 1978 and has 453 units with many amenities such as a dog park, soccer court, 5 resort style pools and a dog park.

This property was purchased in August 2019 and sold in April 2021 for an annual return to our investors of 35%.

WINDING TRAILS/ONYX

Winding Trails is a gated community that was built in 1979 with 438 total units and is situated on a 13.8-acre site in Houston, TX. The units consist of expansive one, two and three bedroom floor plans with private patios/balconies. Amenities include a swimming pool, playground, and outdoor picnic area. There is also a clubhouse which can be rented but is also used for after school programs including a well-regarded STEM (science, technology, engineering and math) program for residents.

The Property is located in West Houston in the Alief submarket, minutes away from Houston’s other major freeways.

This property was purchased in January 2019 and sold in December 2021 for an annual return to our investors of 9%.