Why We Love This Deal

• The business plan involves the perfect blend of increasing resident value while staying below the affordability threshold for the submarket.

• Large interior units make the property a desirable place to live for families.

• Irving has seen rent increases of 1.9% T12, with rent growth projected at 2.9%+ through the hold period, with a total of ~$200 organic rent growth through our investment hold period.

• Residents benefit from convenient access to the President George Bush tollway.

• LSC sees a prime opportunity to renovate interiors with new black appliances, granite countertops, modern cabinet fronts, and backsplashes to achieve ~$155 rent premiums.

• Refreshing amenities such as the pool, sport court, and dog park aims to elevate tenant satisfaction and drive demand.

• Irving is a prime location between DFW International Airport and the Las Colinas Urban Center and is home to over to 2,000 corporate offices, including many Fortune 500 companies. The robust economic growth in the area is fueled by diverse industries, providing a stable tenant base.

• The planned $3B Terminal F by DFW and American Airlines promises further economic expansion.

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INVESTMENT TERMS​

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