FUND PORTFOLIO ASSETS
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Apartments | 350-units | Austin, TX
Asset Highlights
Location | Austin, Texas is one of the fastest growing metros in the US. The property is less than 8 miles from The Domain, an area quickly becoming Austin’s second downtown.
Asset Quality | Originally built in 1983 in an excellent location, the previous owner already renovated 2/3 of the units.
Proven value-add strategy | The market has proven it will absorb a rent premium for the renovated units, our operating partner will complete renovations on the remaining units.
Strategy Highlights
67% of units have been renovated
Renovated units are achieving a $115/mo premium
Operational improvement will further benefit NOI
2-tier equity structure with a portion of our investment in both a fixed-yield preferred equity position and a profit-based equity position to maximize returns.