Avista Fund in partnership with RSN Property Group are thrilled to be offering investments in our latest multifamily acquisition, Eagle Creek Landing, in the thriving market of Dallas, Texas.
Eagle Creek Landing, is a boutique rental community offering 226 one and two-bedroom apartment homes in a two-story garden-style layout. This tree-lined community is a tenant’s dream with a pool, two pickleball courts, a tennis court, a basketball court, a clubhouse, and ample greenspace to enjoy. Conveniently located just 20 minutes from downtown Dallas, directly up the 35E interstate. The surrounding area boasts a long list of restaurants, shopping centers, major highways, parks, and much more. This highly desirable property has a vast investment upside and represents a compelling opportunity for investors.
Fantastic investor returns:
Equity Multiples of 2.01x – 2.12x
AARs of 20.22% – 22.34%
IRRs of 16.38% – 17.63%
CoC of 7.66% – 7.98%
We’re also offering a “pure cashflow” investment class with 10% fixed returns.
Incredible basis: We’re picking up this asset for a significant discount (click the links below for non-public pricing info) compared to the market’s peak in 2022 when similar assets were priced at around $152k/per door. Additionally, a recent comparable sale from June, for a lesser asset, closed at $123k per door.
Premium Location: Being located in Dallas-Fort Worth (DFW) adds to the investment strength of this opportunity, as the DFW real estate market has shown itself as an exceptional area poised for continued growth and opportunity. After seeing huge success in San Antonio and Austin over the past decade, it makes perfect sense to stick to what we know and deepen our ties to the “Texas Triangle”.
Additional Investor Return Upside: This property includes land deeded for another 26 units. There are many options here, including building the additional units or simply selling the land to a developer for a quick profit. While this opportunity has the potential to significantly enhance investor returns, it has not been factored into the underwriting or investor returns.
Opportune Market Timing: Prices for multifamily apartment properties have fallen more today than during the 2008 Global Financial Crisis. This presents an attractive opportunity to buy into the bottom of the cycle at prices that won’t be seen again. We’ll be sharing more data on this in the webinar and subsequent mailings.