MacArthur Place

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3. LP Investment

MacArthur Place is a 548-unit property located in a highly desirable infill residential neighborhood of Irving-Las Colinas (Dallas, TX). The property is centrally located and provides unparalleled access to some of the major employment centers throughout DFW. MacArthur is a well-maintained property with all of the units in their original condition. The in-place rents at the property are some of the lowest rents in the market which provides an incredible value add opportunity. The business plan is to capitalize on significant operational upside and to renovate and modernize the unit interiors, exteriors, and common area amenities while still offering competitive rental rates. Additionally, Ashcroft (deal sponsor) has identified significant operational upside in the expenses and rents. The fundamentals in Irving-Las Colinas are very strong – As a testament to the market, McKesson (#6 on the Fortune 500 list) recently announced that it will be moving its global headquarters to Las Colinas and Allstate just announced it will be adding 1,300 jobs to their Irving offices.
Project Details

Acquisition: $48,300,000

Units: 548

Close Year: 2019

Known for being extremeley investor friendly, Texas is home to some of the best deals in the market. An asset of this size produces great economies of scale
For more information on how to partner with Longview, feel free to reach out to us at lva@longviewacquisitions.com

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