Las Villas Del Parque

las villas del parque1

Investment Rationale

  • Poorly managed asset was under-leased and had potential for improved asset performance through effective leasing and management.
  • Besieged asset was plagued with low occupancy at acquisition. Implementation of an effective SI management plan allowed for release of inefficiencies and quick repositioning.
  • Well located in the strong and emerging area of Westbury submarket, near to Houston’s Willow Water Hole Park – one of the largest Green spaces in the City of Houston featuring  jogging and bike trails and nature centers. Near to schools, commercial centers, and major transportation lines.
  • Sister property, Ranchwood Apartments, located nearby provided improved management and operational efficiencies, and economies of scale.
  • Well-constructed asset acquired at a discount due to operational deficiencies and high vacancy.

Current Status

  • Fully stabilized and performing in excess of pro-forma estimates.
  • Favorable permanent financing terms.
  • Asset is in good repair with all rents cycled to market rates.