Ross & Matilda

INVESTMENT SUMMARY

Ross and Matilda aka Ross Flats is a 32-unit 3-building multifamily infill apartment complex located near Lower Greenville in the Lakewood submarket of Dallas, TX. The three buildings of Ross and Matilda (5609 Ross Avenue; 5615 Ross Avenue; 5610 Lewis Street) were severely outdated and underutilized properties located in a prime location currently undergoing tremendous revitalization. This fabulous residential community sits two blocks away from Lower Greenville Avenue.

PURCHASE RATIONALE

The three buildings of Ross and Matilda (5609 Ross Avenue; 5615 Ross Avenue; 5610 Lewis Street) were severely outdated and underutilized properties located in a prime location currently undergoing tremendous revitalization. There is a need for lower to moderate income rentals in the Dallas Metropolitan area, as well as, to this submarket due to the large number of higher priced luxury units entering the market.

EXIT STRATEGY

Stabilization is anticipated in year 2 with a 2% rental increase projected for the next 11 years. This project is a buy and hold; however, a year 5 sale date from stabilization leaves upside for a subsequent purchaser’s future cash flows.