37-Unit Apartment Community | Houston, Texas | Acquired July 2018 | Current Holding
KEY FACTS
| Asset Type |
Apartment Community – 37 Units |
| Location |
Houston, Texas
|
| Acquired |
July 2018 |
| Financing |
Freddie Mac – Refinanced |
| Loan-to-Value |
63% |
| Gross Property Value Increase |
Approximately +175% since acquisition |
| Appraised Value |
$3.25 million – May 2022 |
INVESTMENT OVERVIEW
Yale Apartments is a 37-unit Houston apartment community acquired in July 2018. At this size, the property added operating scale while remaining within the smaller and middle-market segment that has been a recurring focus of the principal’s investment activity.
OWNERSHIP & VALUE CREATION
- Refinanced through Freddie Mac at 63% loan-to-value, retaining a meaningful equity position in the property.
- Agency financing supported continued ownership and portfolio growth without taking leverage to the level used on some higher-leveraged assets.
- The property represents the portfolio’s progression toward larger conventional apartment communities.
CURRENT POSITION
A May 2022 appraisal valued Yale Apartments at approximately $3.25 million, representing an estimated increase of approximately 175% from the acquisition basis. The property remains an active holding.
LOCATION
Yale ApartmentsHouston, Texas