120 Units Greenville, TX

[Ashton Levarek]

Investment Info:

Large multi-family (5+ units) commercial investment investment.

Purchase price: $9,200,000
Cash invested: $3,385,500

Contributors:
Joseph Druther, Chris Levarek

120 Unit Apartment complex in Greenville, TX. About 20-30 minutes outside of Dallas comprising of a mix of studio, 1 bed/bath, 2 bed, 1 bath, and 2 bed/bath apartments.

The equity capital was raised via passive investors looking to become Limited Partners in large multifamily real estate investments. We used a 506b offering, meaning they had an existing relationship with our team prior to investing.

What made you interested in investing in this type of deal?

Proximity to Dallas, TX, projected growth rate in that area, partners involved.

How did you find this deal and how did you negotiate it?

Referrals

How did you finance this deal?

Commercial Loan

How did you add value to the deal?

Rahab, RUBS program, gym, tenant screening, etc.

What was the outcome?

Still Holding!

Lessons learned? Challenges?

Dallas is a great market but if you want to avoid the high property taxes buy outside of the city limits but still close enough to support the commuter demographic.