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Eagle Property Capital Announces Acquisition Activity of its Third Multifamily Fund

Company Release – 10/03/2016

Eagle Property Capital Announces Acquisition Activity of its Third Multifamily Fund

EPC Multifamily Partners III Acquires 171 Apartment Units in Arlington, TX

MIAMI, FL. –(BUSINESS WIRE)– Eagle Property Capital Investments, LLC (“EPC”) announced the acquisition of Hillstone on Center, a 171-unit multifamily property (the “Property”) located in Arlington, Texas within the Dallas / Fort Worth Metropolitan Area (“DFW”). The Property was acquired by EPC Multifamily Partners III, LLC (“Fund III”), a private investment vehicle raised and managed by EPC. The Property represents the third acquisition for Fund III.

DFW has one of the strongest fundamentals in the United States in terms of population, job, household income, and economic growth. The Property is ideally located within the Arlington medical cluster, adjacent to the Medical Center Arlington and one-mile north of the USMD Hospital at Arlington. Additionally, the Property is just south of Vandergriff Park, an 84-acre park with pools, tennis courts, baseball fields and playgrounds.  The location, halfway between Downtown Dallas and Downtown Fort Worth, has easy access to all major thoroughfares traversing DFW, proximity to multiple employment centers and shopping and dining options including Arlington Highlands Mall, The Parks at Arlington Mall, Walgreens, Costco, among others.

EPC will execute a value add strategy to reposition the Property as “best in class” by making improvements and additional capital investments to exteriors, completing interior upgrades to the remaining non-renovated apartments and townhomes, and improving amenities. EPC will rebrand the community as Arlington Hills Apartments within the first three months of ownership in conjunction with the planned investments and Property repositioning.
The acquisition was partially financed by an agency mortgage loan with a ten-year fixed interest rate, utilizing an innovative green financing program where EPC commits to reducing water or electricity consumption at the Property by implementing green initiatives.

“The acquisition of Hillstone on Center Apartments, soon to be Arlington Hills Apartments, is a solid example of a high quality asset, close to major employment centers that is a strong addition to our Fund III Portfolio”, said Gerardo Mahuad, Partner at Eagle Property Capital Investments. “We believe in the continued strength of the multifamily market in DFW, driven by strong employment and continued economic growth. We expect strong apartment fundamentals in the foreseeable future that we will continue to take advantage of with our scalable operating platform”, Mr. Mahuad continued.

Fund III acquires repositions, rents and manages a portfolio of quality class B and C multifamily apartment communities in top growth metropolitan areas of the southern United States. With the acquisition of the Property, Fund III now has a portfolio of 759 apartment units.

About Eagle Property Capital Investments, LLC

Eagle Property Capital Investments is a real estate investment manager engaged in the ownership, acquisition, management and disposition of multifamily apartment properties in the southern United States. Since 2011, EPC and its affiliates have acquired 16 multifamily residential properties in Florida and Texas containing over 3,406 apartment units.

Forward-Looking Statements

In addition to historical information, this press release contains forward-looking statements under the federal securities law. These statements are based on current expectations, estimates and projections about the industry and markets in which Eagle Property Capital Investments and its investment vehicles operate, management’s beliefs, and assumptions made by management. Forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict.