Texas Re- Entry Acquisition
Property: Cranbrook Forest
Acquired: July 2018
Value-add acquisition bustling Houston market. Houston multifamily has continued to show strong appreciation and momentum with occupancy, absorption, rental rates, and job growth on a positive slope year after year.
Cash on Cash
Internal Return Rate
Lack of effective property management and financing difficulties resulted in a need to sell.
Through implementing a hands-on approach, capital improvements and new property management takeover took less than six months to complete.
Foothold in Texas
“Texas offers a myriad of strong investment opportunities. Despite the devastation from Hurricane Harvey and economic struggles due to the oil industry slump, Texas is known for housing many innovative technology companies and will most definitely continue to grow.”
SVP of Business Development, Michael Davalos
SVP of Business Development
11098 Biscayne Blvd, Miami, FL 33161