Fund I

Arbor on Richmond

Houston,

TX

Total Required Equity
$3,100,000
Asset type
Multifamily
Investment Objective
Growth & Income
Realized IRR
27%
Hold Period
5 years
Investment Date
6/1/2011

Investment Summary

Arbor on Richmond was a 304-unit, Class B apartment complex located just south of the energy corridor in the Westchase submarket of Houston, TX. The asset was located near Houston’s largest employment centers including Westchase, Galleria, and the Energy Corridor. We acquired the asset after a two-year bankruptcy battle by the previous owner and we then completed extensive exterior and unit interior renovations to bring the property up to market standards, improve the tenant base and increase occupancy.

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