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Completed
Austin, TX

Sycamore Townhomes

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Property Overview

The Opportunity

Purchased non-performing loan of in-complete townhome development project in South Central Austin from BBVA Compass at 38% of the unpaid principal balance. We received the deed-in-lieu from the owner and proceeded with a friendly foreclosure to clean up the title. We contracted to sell the existing 10 units in 10 days and redesigned and developed an additional 35 townhomes that sold with 4 months of completion.

Competitive Advantage

Lessons Learned

Property Location

Documents & Financials

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Related Articles

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Investment Summary

Property Type:
Townhome Development
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Strategy:
Loan Purchase, Townhome Development
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Address:
304 W Alpine Rd, Austin, TX 78704
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Investment Date:
September 1, 2010
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Est. Hold Period:
2.2 Years
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Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Est. Exit Cap Rate:
N/A
Investor Preferred Return:
N/A
Property Type:
Townhome Development
N/A
Strategy:
Loan Purchase, Townhome Development
N/A
Address:
304 W Alpine Rd, Austin, TX 78704
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Investment Date:
September 1, 2010
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Disposition Date:
December 1, 2012
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Hold Period:
2.2 Years
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Realized IRR:
58.80%
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Equity Multiple:
2.05 X
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Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Exit Cap Rate:
N/A
Realized Investor Return:
N/A
Property Type:
Townhome Development
N/A
Strategy:
Loan Purchase, Townhome Development
N/A
Address:
304 W Alpine Rd, Austin, TX 78704
N/A
Investment Date:
September 1, 2010
N/A
Disposition Date:
December 1, 2012
N/A
Hold Period:
2.2 Years
N/A
Total Capitalization:
N/A
Loan To Cost Ratio:
N/A
Cap Rate at Close:
N/A
Realized Investor Return:
N/A

Investment Summary

Property Type:
Multifamily
Realized IRR:
14.35%
Realized Equity Multiple:
2.15x
Hold Period:
6.5yrs

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