Built between 2009-2017, the Portfolio is in excellent condition and has experienced no interior or amenity enhancements. Three of the four assets allow new ownership the opportunity to complete a renovation program with the addition of interior enhancements to aggressively push rental rate premiums. Interior improvements could include stainless steel appliances, faux wood flooring, new fixtures, granite countertops, backsplashes, modern lighting and more. Furthermore, effective rents at the properties trail the competitive sets between $95-$216.
Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp. a Texas licensed real estate broker (“HFF”) has been exclusively retained to offer an opportunity for qualified investors to purchase the fee simple interest in the Encore Southwest Portfolio (the “Portfolio” or “Properties”), comprised of 1,084 units across four multi-housing assets in three different states. Located in Richmond, TX (Houston), Corpus Christi, TX, Bixby, OK (Tulsa), and Thibodaux, LA, this unique Class “A” portfolio represents a significant opportunity to obtain scale on a national level below replacement cost. At the property level, the Portfolio offers new investors well-maintained assets with little to no deferred maintenance and the ability to improve income levels. Moreover, the Portfolio offers the opportunity to acquire a dynamic set of assets with assumable in-place debt, creating a stable, cash flowing Portfolio at an attractive basis.