Discovery at Rowlett Creek

Year built: 2013
Units: 366
Location: McKinney, TX (Dallas MSA)

Asset Type: Class A

Investment Background/Rationale:

KCVG sourced this transaction off-market directly from the developer during lease up. The property offered large, well-designed floor plans, and a best in class sales platform and amenity package. Opportunities existed to immediately improve income through more intensive NRES management and the implementation of yield management.

 

Waterstone at Cinco Ranch

Year built: 2013
Units: 206
Location:Katy, TX (Houston MSA)

Asset Type: Class A

Investment Background/Rationale:

The Property is located in Cinco Ranch, a highly regarded master-planned community in Katy. KCVG sourced this transaction directly from the developer during lease up. The Property offered large, well-designed floor plans, and a best in class sales platform and amenity package. KCVG’s existing experience and presence in the Houston marketplace provided operational efficiencies and gave it insight into stabilizing operations and maximizing revenue with minor enhancements.

Amberwood Apartments

(now called The Lodge Apartments)

Year built: 1972
Units:324
Location: Lincoln, NE

Asset Type: Class A Garden style

Investment Background/Rationale:

Amberwood Apartments was purchased by KCVG in 2003 as a redevelopment and repositioning of an older property in the tertiary but dynamic market of Lincoln, NE. KCVG used its finance discipline to originate an additional tranche of tax-exempt bonds to fund a redevelopment plan over an 18 month period. KCVG had a successful exit less than three years after acquisition.

London House Apartments

Year built: 1970
Units:152
Location: Lenexa, KS (Kansas City MSA)

Asset Type: Class B

Investment Background/Rationale:

In February 2007, KCVG purchased the subject property, 152 unit complex located in Lenexa, KC near the intersection of I-35 and 95th Street. Oak Park Mall, the metro area’s dominant mall is less than half a mile from the property. In conjunction with the purchase, KCVG secured private activity bonds from the City of Lenexa to finance the acquisition and rehabilitation of the subject which significantly enhanced projected returns. ​