Cottages at Bedford
Cumulative Return – 72%
Acquisition: $7,550,000, April 2014
Sale: $12,600,000, August 2017
Cottages at Bedford was purchased in April, 2014 and was identified as an opportunity to greatly improve daily management operations. In addition, at the time of acquisition, significant construction was taking place very near the property, as Tarrant County was improving the highway system and surrounding streets. Our investors took advantage of this opportunity as revenue increased by 35% during the 3+ year hold period. Upon sale in August, 2017, investors received a 26%+ IRR and was offered the opportunity to 1031 exchange their investment into The District at Cypress Waters.
Cumulative Return – 40%
Acquisition: $7,400,000, December 2013
Sale: $10,800,000, May 2016
Highlands Creek was purchased as Glen Oaks Apartments in December 2013. Archwood acquired the property as a value add opportunity. Significant exterior improvements were completed during the first six months of ownership, at which point the property was rebranded as Highlands Creek. Extensive renovations took place in units as they became vacant, and the tenant base improved greatly.
Strategic and aggressive management continued through the hold period, consistently improving cash flow. Revenue increased more than 30% during the 2.5 year hold period and the property was sold in May of 2016, resulting in a 40% return to investors.
Cumulative Return – 75%
Acquisition: $5,000,000, August 2005
Sale: $6,500,000, June 2012
Archwood acquired Flatirons Park in 2005. Unit interiors were satisfactory; however, the exterior required significant capital improvements. All upgrades were completed during the first year of ownership. The reputation of the property within the community drastically improved and resulted in an improved tenant base. The asset continued to cash flow through the hold period and the property was sold in 2012, as our expected hold period of 5-7 years was met. The result of the sale was a 75% return to investors.
Cumulative Return – 50%
Des Moines, Iowa
Acquisition: $2,040,000, August 2007
Sale: $2,450,000, October 2013