Colinas Ranch Apartments was acquired by EPC’s fourth investment fund in 2018
DALLAS (May 24, 2023) – Eagle Property Capital Investments, LLC (“EPC”), a vertically integrated real estate investment manager focused on the value-add multifamily space, announced the disposition of Colinas Ranch Apartments, a 160-unit apartment community, located in Irving northwest of Dallas-Fort Worth, Texas. The Property was acquired by EPC Multifamily Partners IV, LLC (“Fund IV”) and RealtyMogul 89, LLC in October 2018.
“The repositioning strategy that we implemented had a direct and positive impact on the property’s profitability, which allowed us to exceed the projected returns established in the business plan and capture significant value,” said Gerardo Mahuad, Managing Principal at Eagle Property Capital. “Despite today’s real estate market conditions, the disposition of this asset demonstrates the success and effectiveness of our value-add strategy and capital improvement program.”
Colinas Ranch Apartments, located at 3203 W Walnut Hill Ln. in Irving, Texas was built in 1971. EPC successfully implemented a thorough repositioning strategy that substantially improved the profitability of the value-add property. The strategy included upgrading the apartment interiors, existing common areas and amenities, adding new amenities and services as well as implementing water and energy conservation programs. In addition, the property benefited from operating efficiencies that significantly reduced controllable expenses by being operated together with Grand Riviera, a neighboring property also owned by an investment vehicle sponsored by EPC.
About Eagle Property Capital Investments
Eagle Property Capital Investments is a vertically integrated real estate investment manager pursuing value–add investment strategies through the acquisition, reposition, and management of multifamily apartment properties in Florida and Texas. Since 2011, EPC and its affiliates have acquired 39 multifamily residential properties containing over 9,300 apartment units. To learn more about EPC, visit www.eaglepropertycapital.com