Villa Anita

villa anita1

Investment Rationale

  • Well located in the Brookhollow Submarket of Houston, with Cy-Fair ISD Schools, close proximity to the 290 Superhighway as well as shopping, commercial and employment centers as intrinsic amenities to residents.
  • Aesthetically pleasing and structurally sound property, allowing for rehabilitation dollars to be spent where they would bring about the highest economic benefit to operations.
  • Acquired through negotiated assumption of CMBS debt out of receivership through special servicer.
  • Prior to acquisition, property underperformed largely due to period of management instability and lack of attention resulting in below market collections and ineffective, inefficient operations plan.
  • Additional upside in rental rates created through investment/implementation of technology-based solutions to enhance site control management.

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.