$44.3 million ($127k/unit) off-market acquisition & repositioning of a 348-unit, 91% occupied at the closing. Class B multifamily community located 15 miles NE of Downtown Dallas in Garland, TX
Opportunity:
Off-Market Acquisition & Highly Accretive Debt Assumption/Modification
Extraordinary Discount to Replacement Cost
Attractive Going-In Yield: 6.0% going-in cap rate
Asymmetric Return Profile at “Reset” Acquisition Basis
Strategic & Disciplined Value-Add Capital Investment