Delta Lodge

DeltaLodge1

Investment Rationale

  • Well located asset on frontage of Interstate 45, allowing for maximum exposure and rental rates.
  • Acquisition of asset also included transfer of additional land leases non-realty assets, which added significant value to the transaction.
  • Improved operational efficiency through application of economies of scale on all SI sister assets located in same market area.
  • The low occupancy at acquisition allowed for quick repositioning/release of asset and application of SI operating plan would clear many of the inefficiencies besieging the asset prior to acquisition.
  • Property purchased at a discount to market as well as to replacement cost.

Current Status

  • After stabilization and a hold period, Delta Lodge Apartments was sold in 2007, in a market rate transaction.