The Magnolia at Georgetown
Located in the Austin MSA, The Magnolia at Georgetown is a 432-unit garden-style property, which was completed in 2023 and acquired in late 2024. It was purchased at a 22% discount to replacement costs, locking in a large discount at acquisition.
Ability to dramatically improve NOI through expense reductions and value-add improvements
Focus on high tech job growth in the Austin MSA
Villas at Wylie
Located in the DFW MSA, Villas at Wylie is a 303-unit garden-style property, which was completed in 2008 and acquired in early 2021 with the assumption of a fixed rate Fannie Mae assumption. It was purchased at a 25% discount to replacement costs and a similar discount to market pricing at the time.
Ability to dramatically improve NOI through expense reductions and value-add improvements
Focus on high tech job growth in the Austin MSA
The Vue
Located in the Austin MSA, The Vue is a 156-unit garden-style property, which was completed in 1999 and acquired in late 2021. It was purchased at a 10% discount to replacement costs and a 20% discount to market pricing at the time.
Ability to dramatically improve NOI through expense reductions and value-add improvements
Focus on high incomes and high job growth in the Austin MSA
Realized 20%+ Gross IRR in 2022
Cypress Parc Townhomes
Located in the Houston MSA, Cypress Parc Townhomes is a 200-unit townhome property, which was completed in 1978 and acquired in late 2021 with the assumption of a fixed rate Fannie Mae assumption. It was purchased at a 40% discount to replacement costs and a 30% discount to market pricing at the time.
Ability to dramatically improve NOI through expense reductions and value-add improvements
Focus on high incomes and high job growth in the Austin MSA
Realized 20%+ Gross IRR in 2022
