Operating expenses for Texas apartment complexes

[Steve Hoghe]

Hi BP, I am looking to benchmark operating expenses for a portfolio of large apartment complexes throughout Texas, specifically in the Houston, Fort Worth and and San Antonio markets. The portfolio in question is a set of 4 properties are B+/A class with 200-400 units. If anyone has experience with these types of properties, I would love to hear what range of op-ex per unit or op-ex ratios you typically see, or any additional resources you could point me to. Thanks in advance.