Recent Transactions

SAMPLING OF RECENT ACQUISITIONS

Dallas, TX

205 Units

Dallas, TX

221 Units

Dallas, TX

302 Units

Dallas, TX

224 Units

view of a courtyard and stairs leading up to the second floor of an apartment complex

Dallas, TX

152 Units

Silver Spring, MD

143 Units

Rochester, NY

504 Units

Dallas, TX

220 Units

Los Angeles, CA

50 Units

Brentwood, NY

119 Units

Capitol Heights, MD

197 Units

Suitland, MD

115 Units

ashton heights suitland acquisition property

Suitland, MD

282 Units

parkland village forestville acquisition property

Forestville, MD

159 Units

granmax silver spring acquisition property

Silver Spring, MD

180 Units

stony brook village hyde park acquisition property

Hyde Park, MA

98 Units

Dickson, TN

174 Units

Houston, TX

252 Units

Houston, TX

236 Units

SAMPLING OF RECENT DISPOSITIONS

village green san bernardino acquisition property

San Bernardino, CA

184 Units

Las Vegas, NV

184 Units

Las Vegas, NV

195 Units

Anaheim, CA

100 Units

Lancaster, CA

200 Units

stonebridge houston acquisition property

Houston, TX

240 Units

New Orleans, LA

300 Units

Dallas, TX

300 Units

Anaheim, CA

116 Units

Fort Washington, MD

304 Units

Tampa, Fl

328 Units

DeSoto(Dallas), TX

200 Units

Las Vegas, NV

113 Units

Colorado Springs, CO

192 Units

CASE STUDY 1

Overview

Asset was a Class B 184-unit property in Las Vegas, NV acquired in 4Q of 2015 at $63K/unit and was sold in 2Q of 2017 at $77K/unit.

The asset underwent a rebranding and renovation process on both exterior and interior aspects. This resulted in $100+ rental increases along with an implementation of a robust RUBS system and washer/dryer package that allowed for additional income generation. Simultaneously, expenses were run more efficiently than the prior owner allowing for an 8% reduction.

Capital improvements included new monument and directional signage, exterior upgrades and repairs, installation of new common area amenities, and an interior unit upgrade package.

Stats

Las Vegas, NV

Location

184

# of Units

1995

year built

Oct. 2015

acquisition date

June. 2015

disposition date

20mo.

hold period

$11,600,000

purchase price

$63,043

purchase price/unit

$14,250,000

sales price

$77,446

sale price/unit

15.47%

IRR

Acquisition/Disposition

Acquisition

Occupancy
Total Income
Total Expenses
NOI

95.10%
$1,438,477
$741,220
$697,220

Disposition

Occupancy
Total Income
Total Expenses
NOI

97.28%
$1,739,712
$684,148
$1,055,564

% Change

Occupancy
Total Income
Total Expenses
NOI

2.18%
21%
-8%
51%

CASE STUDY 2

Overview

Asset was a Class B 484-unit property in Houston, TX acquired at the end of 2011 at $26K/unit and was sold in 2Q of 2015 at $46K/unit.

The asset underwent a rebranding and extensive renovation process on both exterior and interior aspects. The end results helped achieve a $200+ increase in rents, along with new income streams through implementation of a RUBS system and other ancillary fees.

Capital improvements included new exterior paint and siding upgrades, new monument and directional signage, new pool and fitness center equipment, installation of new playgrounds and dog parks, clubhouse renovation, and an interior unit upgrade package.

Stats

Houston, TX

Location

484

# of Units

1977

year built

Dec. 2011

acquisition date

April. 2015

disposition date

40mo.

hold period

$13,000,000

purchase price

$26,860

purchase price/unit

$22,231,000

sales price

$46,095

sale price/unit

25.71%

IRR

Acquisition/Disposition

Acquisition

Occupancy
Total Income
Total Expenses
NOI

83.67%
$3,003,727
$200,008,662
$1,025,065

Disposition

Occupancy
Total Income
Total Expenses
NOI

95.86%
$3,932,113
$2,216,702
$1,805,410

Change

Occupancy
Total Income
Total Expenses
NOI

12.19%
29%
10%
76%