Recent Transactions

SAMPLING OF RECENT ACQUISITIONS

Fort Washington, MD

304 Units

Las Vegas, NV

195 Units

DeSoto(Dallas), TX

200 Units

Colorado Springs, CO

192 Units

Dallas, TX

220 Units

Tampa, Fl

328 Units

SAMPLING OF RECENT DISPOSITIONS

Las Vegas, NV

184 Units

Anaheim, CA

100 Units

Lancaster, CA

200 Units

New Orleans, LA

300 Units

Dallas, TX

300 Units

Anaheim, CA

116 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.

case one case one

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.

case two case two

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%