Here Companies Announces LOI for Acquisition of 71-Unit Apartment Community Villa Encanto
Post-Rehab Rendering
The acquisition will be financed at 4.85% interest fixed for seven years.
Located just northwest of Dallas Love Field airport, Villa Encanto is highly desirable workforce housing in a central, job-rich area of Dallas.”
DALLAS, TX, UNITED STATES, February 16, 2023 /EINPresswire.com/ -- Here Companies, a leader in DFW rental housing, today announced a signed letter of intent (LOI) to acquire the 71-unit Villa Encanto apartment community. The transaction is expected to close within 90 days.— Ryan Cassin
To finance the acquisition, Here has partnered with CBRE Capital Markets and Freddie Mac to secure a mortgage with an attractive, fixed rate of 4.85% for 7 years.
“Located just northwest of Dallas Love Field airport, Villa Encanto is highly desirable workforce housing in a central, job-rich area of Dallas,” said Ryan Cassin, Managing Partner of Here Companies. “Demand for this particular type of apartment drives cash flows from day one for investors, prior to executing our operational improvement plan.”
Planned improvements to the community include the installation of smart locks and thermostats in every unit, launching community-wide wireless internet, upgrading shared amenities, improving curb appeal and exterior lighting, and the addition of covered parking options for residents.
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About Here Companies
An innovator in single-family and multifamily rental housing, Here Companies takes the stress out of renting by putting technology at the center of resident experience. Since 2021, Here Companies has acquired, rehabbed, and leased over 130 high-quality single-family homes in North Texas. Here homes are found in strong communities with access to excellent jobs, great schools, and wonderful neighborhoods. Learn more at HereCompanies.com.
Ryan Cassin
Here Companies
ryan@herecompanies.com
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