46-Unit Condominium Community | Houston, Texas | Acquired May 2017 | Current Holding
KEY FACTS
| Asset Type |
Condominium Community – 46 Units |
| Location |
Houston, Texas
|
| Acquired |
May 2017 |
| Financing |
Freddie Mac – Refinanced |
| Loan-to-Value |
78% |
| Gross Property Value Increase |
Approximately +391% since acquisition |
| Appraised Value |
$4.50 million – November 2024 |
INVESTMENT OVERVIEW
Weaver Condos is a 46-unit condominium community in Houston acquired in May 2017. The property expanded the principal’s residential portfolio into a larger condominium asset while maintaining the same focus on acquiring at a favorable basis and holding for long-term value creation.
OWNERSHIP & VALUE CREATION
- Refinanced through Freddie Mac at 78% loan-to-value.
- The refinancing released equity for redeployment into additional acquisitions while ownership of the property was retained.
- The November 2024 valuation is supported by a third-party appraisal.
CURRENT POSITION
Weaver Condos remains an active holding. A November 2024 third-party appraisal valued the property at approximately $4.50 million, representing an estimated increase of approximately 391% from the acquisition basis.
LOCATION
Weaver CondosHouston, Texas