FUND PORTFOLIO ASSETS
AUSTIN APTS > | DALLAS APTS > | SOUTH BEND APTS > | MHP+SS PORTFOLIO > | MHP PORTFOLIO > | KC, MO Apts > | Austin Apts 2 > | TX+NM Apts >
3 Apartment Communities | AA-units |
Houston, Tx & Albuquerque, NM
Asset Highlights
Portfolio | This investment consists of 3 separate apartment communities, 2 adjacent properties located in Houston, TX and a property in Albuquerque, NM.
Two Houston properties (adjacent to each other) | 93% occupied, 384 units, 13-17% avg annual ROI, 3-5 yr hold, 35 buildings, 25 acres, 350,460 net rentable sq ft. In place rents are 11% below market rents. One of the primary value-add strategies will be to increase occupancy to market and mark rents to market for an average increase of $60 from ask rents today and $100 from net in-place rents.
Albuquerque property | 94% occupied, 232 units, 16-17% avg annual ROI, 3-5 yr hold, 22 buildings, 19 acres, 172,618 net rentable sq ft. In place rents are 17% below market rents. One of the primary value-add strategies will be to increase occupancy to market and mark rents to market for an average increase of $37 from ask rents today and $129 from net in-place rents.
