Active
Houston, TX
Crenshaw Grand
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Property Overview
The Opportunity
Crenshaw Grand was the off-market acquisition of a fully stabilized 264-unit, garden style apartment community at the intersection of the supply-constrained Pasadena and Clear Lake submarkets in Houston, TX. BCP acquired the property, developed in 2015, at a significant discount to prior area sales and replacement cost thanks to an accretive loan assumption of the seller’s in-place Freddie Mac loan and BCP’s existing relationship with the in-place property management company.
Competitive Advantage
Lessons Learned
Property Location
Documents & Financials
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Related Articles
Case Studies
February 4, 2024
Case Study: Crenshaw Grand
Investment Summary
Property Type:
Multifamily
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Strategy:
Core-Plus
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Address:
5400 Crenshaw Road, Pasadena, TX 77505
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Investment Date:
July 24, 2024
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Total Capitalization:
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Loan To Cost Ratio:
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Investor Preferred Return:
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Property Type:
Multifamily
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Strategy:
Core-Plus
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Address:
5400 Crenshaw Road, Pasadena, TX 77505
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Investment Date:
July 24, 2024
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Disposition Date:
N/A
Hold Period:
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Realized IRR:
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Equity Multiple:
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Total Capitalization:
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Loan To Cost Ratio:
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Exit Cap Rate:
N/A
Realized Investor Return:
N/A
Property Type:
Multifamily
N/A
Strategy:
Core-Plus
N/A
Address:
5400 Crenshaw Road, Pasadena, TX 77505
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Investment Date:
July 24, 2024
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Disposition Date:
N/A
Hold Period:
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Total Capitalization:
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Loan To Cost Ratio:
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Cap Rate at Close:
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Realized Investor Return:
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Residential
Algarita Lakeside
San Antonio, Texas
Value-Add Multifamily Acquisition of 293-units from distressed Tenant-In-Common "TIC" partnership.
Residential
Property Type:
Multifamily
N/A
Property Type:
Multifamily
N/A
Property Type:
Multifamily
N/A
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Land
NB North
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Off-market acquisition of 22.13 acres of fully entitled land for future multifamily.
Land
Property Type:
Land
N/A
Property Type:
Land
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Property Type:
Land
N/A
Land
Govalle
Austin, TX
Acquisition 2+ acres in East Austin to subdivide into single-family lots.
Land
Property Type:
Land
N/A
Property Type:
Land
N/A
Property Type:
Land
N/A
Residential
Prose Lonesome Quail
New Braunfels, TX
Prose Lonesome Quail is the development of a 390-unit, 3-story garden style multifamily community in New Braunfels, TX, one of the fastest growing cities in the US.
Residential
Property Type:
N/A
Property Type:
N/A
Property Type:
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Commercial
South Lamar Medical Center
Austin, TX
South Lamar Medical Center was the off-market acquisition of a vacant 110K SF former retail and office building for renovation and repositioning into South-Central Austin’s premier medical office.
Commercial
Property Type:
Medical Office
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Property Type:
Medical Office
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Property Type:
Medical Office
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Land
Decker
Austin, TX
Acquired 58 acres off Decker Lane in East Austin. The acquisition was part of a land assemblage with multiple sellers. During entitlement, we subdivided the land selling a tract to our northern neighbor and retaining ownership of an industrial tract, and 20 acre multifamily tract.
Land
Property Type:
Land
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Property Type:
Land
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Property Type:
Land
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