Sale Date: December 2020

Sale Date: December 2020

Sale Date: December 2020

Sale Date: June 2019

Cantera Apartments is conveniently located to shopping centers, dining, and entertainment in Southwest Houston, leasing 1, 2 and 3 bedroom apartments. Our community offers a playground, one block from elementary school in Alief School District, on Metro bus line, townhomes available, and swimming pool.

Purchase Date: February 2013
Sale Date: April 2015
Projected ROE: >200%

A 250 unit Class C property in a low-income area of north central Houston. The asset was only 73% occupied at acquisition. Renovations of $3000/unit included bringing 65 down units on line, remodeling 70% of the previously occupied units, installation of playground and soccer field, and club house remodel. Increased collections 70% during ownership, and achieved in excess of a 200% Return on Equity when sold at stabilization. 

Purchase Date: June 2014
Sale Date: Holding
Projected ROE: 100%

Class B REO sold by FNMA in the Baytown submarket of Houston. Baytown is proximate to the Houston Petrochemical Refineries, and the Port of Houston, and the center of much economic activity. Due to Seller’s unwillingness to fund make-ready and rehab costs, the property had 44 vacant units at closing of acquisition, and was 83% occupied. Urban SW is implementing a comprehensive capital investment program that includes interior upgrades, rehabbing parking lot and pedestrian pathways, new landscaping, installing a playground and soccer field and installing new roofs in selected buildings. The available units were made-ready and leased-up during the first 6 months of ownership and the property is already meeting 3rd year collections estimates. The plan is to refinance or sell that asset when the renovations are completed.

Purchase Date: May 2013
Sale Date: 4 Qtr. 2014
Projected ROE: >100%

A 122 unit Class C property in a good sub-market (Spring Branch) in west Houston. The Property was 75% occupied, and had been neglected for 6 years prior to acquisition. The property suffered from deferred maintenance, and had developed a weak tenant base. USW renovated the property at a cost of $5000/ unit; including new chiller, interior rehab of some 70 units, landscaping, partial re-roof, and upgrades required by the City for Code Compliance. Occupancy has increased to about 95%.

Purchase Date: September 2011
Sale Date: May 2013
ROE: 35%

A 232-unit Class-C property located in Spring Branch, a middle class neighborhood in West Houston. The property was extremely run down, many buildings had water damage from Hurricane Ike and there was deferred maintenance everywhere. Additionally, there were 8 burned units. The project had been foreclosed and was being sold by the lender, Lehman Brothers.

Purchase Date: Feb 2013
Sale Date: May 2013
ROE: 141%

This was a Class B asset in B- area of Spring Branch. Property was over levered and was in maturity default, resulting in owner losing asset. Lack of funds for make readies and marketing resulted in occupancy below 80%. Invested just under $2,000 per unit in renovation costs. Sold in May of 2013 for a very high overall return of 141%.

Purchase Date: March 2010
Sale Date: May 2013
ROE: 61%

Short Sale of B- property in B+ area that was approximately 76% occupied. Tough tenancy and high degree of deferred maintenance at acquisition. Renovated exterior and club house, and substantially upgraded tenancy. Sold in May 2013 for a 61% return on equity.

Purchase Date: December 2010
Sale Date: Summer 2012
ROE: 71%

Short Sale in Southwest Houston. Asset was only 70% occupied at acquisition. Invested $3,857/ unit rehab, that included bringing 25 down units on line, turning 80% of the occupied units, wood repair, paint, playground, club house remodel, and parking lot repair. Property was fully leased within 7 months of purchase, and collections were increasing each month. Sold in the Summer of 2012, achieving a 71% Return on Equity over a 20 month hold period.

Purchase Date: March 2010
Sale Date: November 2013
ROE: 163%

HUD foreclosure. Class C property in C area. 80% occupied at closing. $3,300/ unit rehab included 1/3 new roofs, interior rehab of 500 units, new clubhouse, wood repairs, paint, and landscape. Increased collections over 50% during ownership. Was 95% leased when sold in November 2013 for a 163% return on equity.

Purchase Date: May 2011
Sale Date: May 2013
ROE: 122%

A 268 unit Class-B apartment community in East Houston, TX. The property had been foreclosed and was owned by the lender, Fannie Mae. Although the neighborhood was challenging, the acquisition price was extremely low. Occupancy was 80% at acquisition. The property was in good physical condition, but suffered primarily from poor management. Ownership removed the existing third party management company and replaced them with their own employees. As a result, economic vacancy was lowered considerably.Rehab of $1,500/ unit for primarily make ready of down units, and plumbing repairs. Sold May of 2013, more than doubling investor's equity

Purchase Date: Agust 2009

Anchorage Apartments is a 264 unit multifamily housing community in League City, Texas. Built in 1983, it is situated on Clear Lake, one of the premier recreational areas of Houston. The property has received numerous capital repairs and upgrades in the last 3 years and is in good physical condition. The community has excellent amenities including its waterfront location with 52 boat slips. Occupancy at acquisition was 92%.

Results:

The purchase was financed with a 10 year fixed loan with FNMA. Additionally, the property is being operated locally by one of the invested partners who specialize in multifamily deals. It is expected that annual cash on cash returns to investors will range from 12% to 15% and that a compounded IRR of 23% will be achieved over a 4-year hold

Purchase Date: 2010
 

Purchase Date: 2010
 

Purchase Date: May 2011
Sale Date: May 2013
ROE: 122%

A 268 unit Class-B apartment community in East Houston, TX. The property had been foreclosed and was owned by the lender, Fannie Mae. Although the neighborhood was challenging, the acquisition price was extremely low. Occupancy was 80% at acquisition. The property was in good physical condition, but suffered primarily from poor management. Ownership removed the existing third party management company and replaced them with their own employees. As a result, economic vacancy was lowered considerably.Rehab of $1,500/ unit for primarily make ready of down units, and plumbing repairs. Sold May of 2013, more than doubling investor's equity