Our newest client-exclusive
217 Unit -
5454 Peterson Lane, Dallas, TX 75240
Multifamily Apartment Investment
WE ARE 85%+ SUBSCRIBED!
Verge Apartments 217-unit value-add apartment complex
School District Nationally ranked (Richardson Independent School District)
Centrally located near major employment centers, medical centers, dining, and retail
Strong Market Fundamentals including high growth and low vacan
The trifecta effect:
2X Total Return over 5-year hold
5.14+% Average Annual Cash Flow
20.04% Average Annual Return
50% tax write off (Please consult your CPA)
Class B- Properties Built in 1980
Verge Apartments is walking distance to the Galleria Mall with Nordstrom, Apple, Louis Vuitton, Zara, Sephora and more.
Located inside of the Dallas Midtown Development project which is set to break ground in 2022. The plan highlights include parks and open space, two luxury hotels, iconic office towers, luxury condo units, a 10 screen AMC movie theater, boutique shopping, restaurants and entertainment venues
We secured a 10 year, 57% low leveraged fixed-rate loan! We locked in a low interest rate of 4.86%. Utilizing fixed debt minimizes risk in this high inflationary and interest rate increasing environment we are in!
These assets have tremendous potential, minimal deferred maintenance,
and are in a phenomenal location near schools, parks, retail, and more.
We're excited to be adding more to our deal and leveraging scale to lower our costs, providing better service to our tenants, and decreasing risks for investors.
Extreme Demand in Submarket w/ a Strong Demographic Tenant Base - This asset is located in far North Dallas, where CoStar projects 5.12% rent growth annualized over the next 5 years. The direct area Verge is located in has also seen a staggering 6.37% annualized rent growth over the last 10 years. The asset also sits less than a few blocks off of Interstate 635, a major thoroughfare and has EXTREMELY low bad debt and delinquency due to the type of tenant base. Verge and all Competitors currently have 95-100% occupancy as is!
Inferior Competing Properties Getting Higher than our Pro-forma Rents - During our physical competitor shop survey, we have verified Verge Apartments has rents set lower than our main competitors, AND we have a superior location and product. This gives us extreme confidence we will be able to hit, and likely beat our pro-forma rents right out of the gate!