Projects
2500 McCOLL
2500 McColl is a 142 unit multi-family property located in McAllen, Texas. Acquired in March 2021, this property was built in 2 phases in 2017 and 2019. At the time of acquisition, the property’s occupancy was 95% and rents were below market. Since the property is relatively new, there is very little capital improvement budget and the focus will be on efficient operations and expense control.
ALGARITA LAKESIDE
Algarita Lakeside is a 293 unit multifamily property located in San Antonio, Texas. The property was built in 1985 and includes a beautiful lake stocked with fish for residents catch and release enjoyment, 3 resort style pools, lakeview fitness center and a pet wash room. At the time of acquisition in July 2021, the occupancy was at 91%. The San Antonio market continues to experience population growth. Algarita is centrally located to San Antonio’s major employment centers including the Joint Base San Antonio – Fort Sam Houston.
BELLA VISTA CREEK APARTMENTS
Bella Vista Creek Apartments is located in Dallas, Texas, is a 272 multifamily property purchased in November 2020. This property was built in 1985 and was 93% occupied at acquisition. This is a value add opportunity.
CABANA ON EVERHART
Cabana on Everhart was built in 1975 with 207 total units and is situated on a 10.35 acre site in Corpus Christi, Texas. The property is located 1.2 miles from CHRISTUS Spohn Hospital- South; CHRISTUS Spohn Health System is the largest private employer in Corpus Christi with over 5,000 employees. The population within a 3 mile radius is 117,594 and has grown 12% from 2010-2018.
CAROLINA ROUND-UP
This portfolio consists of 1203 units across 11 properties in 3 states – North Carolina, South Carolina and Oklahoma. The break down by market is 5 properties in Charlotte, NC, 3 in Greensboro, NC, 2 in Greenville, SC and 1 in Oklahoma City, OK. The average built date is 1976. These properties were acquired in June of 2022. At the time of purchase, they were 76% occupied.
COSTA BELLA
Costa Bella was acquired in August 2022 and is located in San Antonio, Texas. This 344 unit multifamily property was built 2007 and was 97% occupied at the time of acquisition.CHERRYBROOK/CREEKSIDE APARTMENTS
Located in Garland, Texas a suburb of Dallas, the Cherrybrook and Creekside Apartments are a 230 unit multifamily property. It was built in 1963 and 1965 and acquired in April 2022. At the time of purchase, it was 95% occupied.
CIMMARON COURT
Cimmaron Court is a 218 unit multifamily property that was acquired in December 2021. The complex was built in two phases, 2004 and 2014. Located on the south side of Corpus Christi, Texas, Cimmaron Court was 97% occupied at the time of acquisition. The Corpus Christi market continues to grow with the new bridge and expanded ship channel projects bringing in additional industry and showing continued economic growth.COLLECTION AT OVERLOOK
Collection at Overlook is a 411 unit multifamily property. It was built in 1984 and is located east of I-10 in northwest central San Antonio, Texas. This location provides residents easy access to downtown in 15 minutes and major shopping at The Rim and Shops at La Cantera only 10 minutes away. Collection at Overlook was acquired in October 2020 and had an occupancy rate of 95% at that time. Extensive unit renovations and light exterior and common area improvements will bring this property up to market standards.
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. In December 2021 the Ocean Palms property was sold and in January 2022 the Baytree property was sold returning 91% of investor equity.DFW AIRPORT FLEX PORTFOLIO
The DFW Airport Flex Portfolio is a 34 building infill light industrial complex with 271,014 square feet. It is located in Irving, Texas positioned within the DFW Airport submarket. The portfolio was purchased in December 2021 and was 96% leased at that time.
FOX HILLS
Located in Dallas, Texas in the Lake Highlands neighborhood, this property has been well maintained for its age. Fox Hills a 178 unit multifamily property. It was built in 1969 and acquired in July 2022. At the time of purchase, it was 95% occupied.LANDMARK AT PINE COURT
Located in Columbia, SC, this property was acquired in August 2022. Landmark is 316 unit multifamily property. It was built in 1989 and was 96% occupied at the time of acquisition.
MELIA APARTMENTS
Purchased in October 2021, the Melia Apartments are located in San Antonio, Texas. The property is a 300 unit multifamily complex built in 1976. Planned capital upgrades will provide quality units at an affordable rent. At the time of acquisition, it was over 97% occupied. Melia is located near prime shopping with easy access to Loop 410 and I-10.
OAKS OF NORTH DALLAS
Located in Dallas, Texas, Oaks of North Dallas is a 456 unit multifamily property. It was built in 1984 and was acquired in February 2022. At the time of purchase, it was 92% occupied. Positioned at the President George Bush Tollway/Dallas North Tollway interchange, the property provides unmatched access to Dallas-Fort Worth Metroplex.
OVERLOOK AT INDIAN TRAIL
Overlook at Indian Trail was acquired in May 2022 and is located in Kingsport, Tennessee which is part of the Tri-Cities area. This newer 168 unit multifamily property was built 2017 and was 100% occupied at the time of acquisition.RESERVE AT OAKLEIGH
Reserve at Oakleigh was acquired in February 2022 and is located in Nashville, Tennessee. It is a 264 unit multifamily property and was built in 2017. At the time of acquisition, it was 95% occupied. The property is in Antioch, one of Nashville’s fastest-growing suburbs and 20 minutes from every economic driver in the metro area.
SOLARA
Solara is a 284 unit multifamily property located in San Antonio, Texas built in 1984. Solara is about 4 miles from the airport and a 15 minute drive to downtown. The property was purchased in February 2022 and was 92% occupied.SOUTH TEXAS 5 PORTFOLIO
The South Texas 5 is a portfolio of 5 multifamily properties with a total of 391 units. The portfolio has one property in Corpus Christi, Texas and four in McAllen, Texas. Built between 1976-2002. The portfolio was purchased in February 2022 and was 98% occupied. This is a value add opportunity.
STAR CLUB APARTMENTS
Star Club Apartments located in San Antonio, Texas is a 321 unit multifamily property. It was built in 1975 and will receive cosmetic updates and cure any deferred exterior maintenance. This property was acquired in September 2021 and had a 92% occupancy rate at that time. The location provides easy access to Loop 410 and I-35. This complex boasts larger than average unit size and highly sought after 3 and 4 bedroom units.
STONELEIGH
Stoneleigh is located in Corpus Christi, Texas in the desirable south side. It is a 348 unit multifamily property built in 2002. At acquisition in November 2021, it was 92% occupied. The Corpus Christi market continues to grow with the new bridge and expanded ship channel projects bringing in additional industry and showing continued economic growth.
The Cove
The Cove is a 264 unit multi-family property built in 2017 in Ingleside, Texas. Ingleside sits just north of the Corpus Christi Bay and was acquired in June 2021. Since the property is relatively new, no significant capital expenditures are planned. The focus will be on effective operations, realigning the rent with the market, reducing the number of corporate units and eliminating Airbnb units. The complex boasts many amenities including a luxury resort style pool with clubhouse, outdoor recreation area, fitness center and dog park. At the time of acquisition, The Cove was at 92% occupancy.
VIEWS AT WEST TOWN
Views at West Town is a 194 unit multifamily property located in Knoxville, Tennessee. The property was acquired in November 2021 and had an occupancy rate of 94% at that time. It was built in 1981 and located in the burgeoning west Knoxville submarket and directly off I-40.
Villages at Paso Real
The Villages at Paso Real in San Benito, Texas, near Harlingen is a 180 unit multi-family property built in 2010 and 2012. Acquired in June 2021. The complex requires only light cosmetic renovations. The Villages at Paso Real offers covered parking, pool, fitness center, clubhouse and playground. Villages was at 96% occupancy at the time of acquisition.
Windsor Place
This is a 176 unit multi-family property located in Laredo, Texas. Windsor Place was built in 2002 and is in an excellent location. At the time of acquisition in April 2021, it was 100% occupied and 65% of the units had been updated and the remaining units were scheduled to be updated. Windsor Place offers amenities that include a pool, pet park, community BBQ area and fitness center.
Woodside and Bridle Path
Woodside built in 1982 and Bridle Path built in 1974 is a 311-unit property. Conveniently located in Seagoville, Texas, with close proximity to I-20 and Highway 175 and 14 miles from downtown Dallas. Due to its age, a sizeable capital improvements budget was planned. This property was acquired in May 2021.