Deal Stories

180 Multifamily Properties acquired a 152 unit apartment complex in February of 2019. The property is located in Bedford, Texas, a submarket of Dallas/Fort Worth metro. This is a B quality asset in a high-growth, A location. Offering a high double digit return, this value added opportunity is a great fit to our growing portfolio. 180 Multifamily closed the asset with attractive non-recourse debt.

180 Multifamily Properties purchased the Pheasant Run Apartments in December 2018.  This asset consists of 271 apartments units.  Located in the NW sector of OKC, Pheasant Run is well located and is surrounded by new development.  Pheasant Run had one owner since the property was built in 1973, which is one of the many reasons why this is such a tremendous value added opportunity.  Upon take over, the property will be renamed and rebranded to bring the asset into this decade.  We are anticipating a double digit return in our first year.  180 Multifamily closed the asset with attractive non recourse debt with 5 years interest only payments.

Purchased by 180 Multifamily Capital in August of 2017, Las Palmitas is located in the highly-growing entertainment district of Arlington, Texas. This is the fifth asset that 180 Multifamily Capital has in Arlington, Texas. This asset previously had one owner since 1998, which is exactly the type of value-add deal that 180 MF Capital seeks out. Upon takeover, a full exterior renovation was started and this property will be transformed from a C-class asset to a B-class asset. Rental growth of 30% has been achieved since takeover and we have projected an 18% cash-on-cash return in the first year. 180 MF Capital closed the asset with attractive agency financing with three years interest-only payments.

Purchased in November, 2016, by 180 MF Capital, Las Palmas is a 262 unit asset located in Arlington, TX.  Situated in the high growth entertainment district, this value added opportunity was a great fit for our portfolio. Upon take over, a full exterior and interior renovation was started. Rental growth of 38% has been achieved and a cash-on-cash return of 11% was attained in the first twelve months. 180 MF Capital closed the asset in 55 days from start to finish with attractive agency financing.

Bella Vida was a highly distressed asset at the time of acquisition. 180 put into place a strong management team which enabled them to change this very distressed asset into a strong cash-flowing asset.  A full exterior and interior renovation was completed, the asset was stabilized and income grew by over 210%.  In 2016, 180 sold the asset for 302% of our original acquisition cost.  The investors received 8 times their original investment, plus the cash flow over the term of ownership. 

Purchased in 2006, as a 294 unit distressed asset located in South Dallas.  when purchasing this asset, it was 50% occupied, 25% down, multiple city violations, and is a HUD low income housing asset.  Today Wheatland Terrace is 302 units with a waiting list and tremendous cash flow.  We were able to stabilize the asset, bring back online all of the down units, and convert what was a an gutted building into an additional eight units. 

Rogers Landing is 109 units located in the high growth entertainment district of Arlington, TX.  Upon take over 180, raised rental rates on units an average of 27% during first  month of management.  180 Mgmt Achieved has a 49% increase in total rental income since takeover in February of 2015 to present.

180MF took over in January of 2016.  This asset previously had one owner since 1993 and was in dire need of improvements. We increased the average monthly Income by over 12.3% during first 3 months of managing property by aggressively increasing rental rates and enforcing our stringent payment policy. A full exterior renovation was completed in 2016.  180's management team was able to Increase the total rental income 24% in first full year and are currently at 34% rental growth.

Another highly distressed asset, 180MF took over mgmt. in July of 2016.  Upon take over 180 oversaw a complete exterior renovation.  Timberbrook is 100% two bedroom units and we transitioned the tenancy to families, and now have successfully increased rents on all unit types.  
 

This beautifully maintained asset is located in the Garland submarket of Dallas.  Upon take over, 180MF Increased rents and are maintaining a 98% occupancy or greater.