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CANYON OAKS APARTMENT PRESENTED BY : STEPHEN PRESTON, MADELEINE FICCACIO AND PATRICK GERGEN DESOTO, TX PURCHASE PRICE: $4,600,000.

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Presentation on theme: "CANYON OAKS APARTMENT PRESENTED BY : STEPHEN PRESTON, MADELEINE FICCACIO AND PATRICK GERGEN DESOTO, TX PURCHASE PRICE: $4,600,000."— Presentation transcript:

1 CANYON OAKS APARTMENT PRESENTED BY : STEPHEN PRESTON, MADELEINE FICCACIO AND PATRICK GERGEN DESOTO, TX PURCHASE PRICE: $4,600,000

2 CANYON OAKS APARTMENT DESOTO, TX PURCHASE PRICE: $4,800,000 Exciting 128-unit Apartment Complex in booming DeSoto, TX cash-flows from day 1. Deals like this are getting harder and harder to find as rental demand continues to increase due to the Texas economic BOOM! Cash flow from Day 1 Stable tenants- 94% Occupied $750,000 of recent upgrades Units boast new kitchens, stainless steel appliances, All electric ranges/ovens, Double stainless steal sinks, Frost free refrigerators, Resurfaced countertops, wood plank floors and more.... High demand for quality rentals Southern Dallas reported rent growth of 6.4% over last year Submarket shows no new supply coming online Impressive absorption expected to increase 1.5% over next 12 months 50% assumable Fannie Mac loan at 5.28%! Introduction TWINSTAR CAPITAL REAL ESTATE FUND

3 There is a high demand for newly upgraded units as is the case with Canyon Oaks, therefore there is a major upside in rents. Southern Dallas County’s 1980s vintage apartment communities recorded rent growth of 6.4% over the last year. The submarket has no new supply scheduled to come online and yet, still forecasted for impressive absorption which is expected to increase occupancy by another 1.5% over the next 12 months DeSoto is an Inland Port of Dallas and is prominent for employment offering real opportunity to lease some small units as corporate apartments to Inland Port employers such as trucking companies and the shipping industry. A Buyer can take advantage of the current Fannie Mae loan with over eight years remaining to maturity. The Opportunity CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

4 Newly Upgraded Kitchens with Stainless-Steel Appliances All-Electric Ranges/Ovens Double Stainless-Steel Sinks Frost-Free Refrigerators Dishwashers/Disposals Resurfaced Countertops, Fixtures & Cabinets Two-Tone Paint Wood Plank Floors Ceiling Fans/Mini-Blinds Large Walk-In Closets Fireplaces Washer/Dryer Connections in Most Units Patios/Balconies Garages Unit Amenities CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

5 Get in CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

6 Common Area Amenities CANYON OAKS APARTMENT Two Swimming Pools Community Barbeque Grills New Clothes-Care Facility (Code Entry & Card Operated) New Leasing Office Beautiful Creek Views Pet Waste Stations TWINSTAR CAPITAL REAL ESTATE FUND

7 Canyon Oaks Apartments is a 128-unit multifamily community that was built in 1985 and has recently experienced a moderate renovation. The improvements are comprised of 11 three-story, buildings totaling approximately 92,096 rentable square feet situated on a 7.03 acre-site. Quality construction features garden-style buildings with wood/stucco/brick veneer exteriors, pitched-composition shingled roofs (new-late 2010), concrete slab foundations, and an over-sized concrete driveway that accommodates 360 parking spaces, 18 of which are offered in the form of attached garages. The HVAC system is provided via individual units with the property being individually metered for electricity. Canyon Oaks offers four floor plans with some being the preferred lofts. Most of the interiors have been upgraded. Numerous interior amenities are offered which include kitchens featuring all-electric ranges/ovens, double stainless sinks, disposals, frost-free refrigerators and dishwashers. Additional items include ceiling fans, patios/balconies, mini-blinds, vaulted ceilings, large walk-in closets, fireplaces, garages and washer/dryer connections in most units. Common area amenities include two swimming pools, a new clothes-care facility, pet waste stations, community barbeque areas, and beautiful creek views. Property Description CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

8 Canyon Oaks is located in Southern Dallas County in DeSoto, which is situated just 15 minutes of downtown Dallas. Excellent access is available via nearby Interstate 35E and Interstate 20. Local employment centers include the newly completed DeSoto Eagle Business and Industrial Park (with more than 400 acres of land) and Hillwood’s Crossroads Trade Center (2,253,410 SF), which are within minutes of Canyon Oaks. The Inland Port of Dallas is prominent employment for DeSoto. This area is home to leading companies such as Sam’s/Wal-Con Distribution Center, McGraw Hill Publishing, Solar Turbines, Inc., ZEP Manufacturing, DIAB, Inc., Kauffmann Tire, DW Distribution, and DeSoto Heliport (recently completed), Kohl’s fulfillment center (951,000 SF), and the nearby Methodist Charlton Medical Center, a full-service teaching hospital. The subject property is located in submarket #13, South Dallas County per M/PF Research, Inc. Per the 2012, 2nd quarter report, submarket #13 has just logged its fourth consecutive quarter of growth, which hasn’t experienced such sustained momentum in over 10 years. Additionally, annual rent growth topped the entire metro area average for the first time in almost two years. One factor pushing up the rent growth levels in South Dallas County was a decline in concession usage over the past year, which saw a 42.33% decrease. In addition, this submarket absorbed 289 units last year and as result, occupancy climbed 3.2 points. No new supply is slated to come online for the next 12 months and subsequently, occupancy is expected to improve an additional 1.5%. Location Description CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

9 South Point Floor Plans 500 CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

10 South Point Floor Plans 672 CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

11 South Point Floor Plans 838 CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

12 South Point Floor Plans 872 CANYON OAKS APARTMENT TWINSTAR CAPITAL REAL ESTATE FUND

13 Contact Detail CANYON OAKS APARTMENT Stephen Preston CEO Twinstar Capital Management Ph: Web: twinstar.ca TWINSTAR CAPITAL REAL ESTATE FUND


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