These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.

289-Unit Class A Multifamily Community - Houston, Texas
 

289-Unit Class A Community – Houston, Texas

 Project Overview: Sample Property E is a newly constructed 289-unit, class A apartment community comprised of a ten-story tower and four-story midrise building located in Houston, Texas. The location of the property provides residents access to retail shopping, the Business District, and the best views in the River Oaks area. The property offers a diverse unit mix with one and two bedroom floor plans with and average size of 965 square feet.

Project Location: The community is located between River Oaks, Houston’s most exclusive and posh retail corridor, and Greenway Plaza, where 765 businesses employ over 25,000 people. Real Estate in this exclusive area has been the most expensive in Houston die to its central location, equidistant to the Galleria, the Central Business District, and the Texas Medical Center. The property also offers residents convenient access to major north-south thoroughfares, which include the 610 Loop, Weslayan, Buffalo Speedway, and Kirby.

Property Purchase Price: $55,000,000

Potential Equity Investment: $18,750,000

Investment Analysis Summary:

• Institutional Quality Asset. Sample Property E is a class A apartment community located in an exclusive area of Houston, Texas. The property developer/owner completed construction of the property in the fourth quarter of 2007 and has leased up 70% of the 289 units. The property is located in an A++ location and offers residents a high-end quality of living with direct access to Houston’s upscale shopping, dinning, and office district.
• Competition. The Inner Loop West / Greenway Plaza submarket of Houston consists of 12,577 apartment units and continually out performs the Houston area with 91.7% average occupancy rate and rental rates per square foot of $1.162. Sample Property E has rental rates per square foot of $1.768, which is out performing the submarket due to the location and high-end product offered to new residents. Over the past 10-years, from 1997-2007, occupancy rates in this submarket have averaged 92% compared to 89% in the other Houston markets. Available land in the Inner Loop West area remains scarce and expensive, with purchase prices at over $100 per square foot. Given this fact, barriers to entry remain high and the property will not have the risk of new developments entering the market and attracting tenants to new properties.
• Retail and Office Market. Major retails within walking distance of the property include H-E-B Central Market, Cole Haan, Tootsies, Crate and Barrel, William-Sonoma, Smith and Wollensky, P.F. Chang’s China Bistro. In addition, the Houston Galleria Mall, which is less than two miles from the property, offers two million square feet of upscale national anchors including Tiffany’s & Co., Cartier, Macy’s, and Louis Vuitton. Within one mile of the property is over 41.3 million square feet of office space. Also in close proximately are both the Texas Medical Center and the Central Business District.
• Strong Demographics. The population within one mile of the property has an average household income of $126,941, almost double the average for the Houston MSA. Single-family homes on the market in the surrounding neighborhoods range from $500,000 to over $12 million.

These are the type of properties America 2030™ seeks to purchase as syndicated investments. None of the properties on this page were purchased, sold, brokered or otherwise controlled, managed or owned by America 2030™, nor does America 2030™ make any representation that buildings such as these could be purchased by the fund.