Creekside North

Texarkana is strategically located along major trade corridors which has been key to growth and development and provides residents convenient access throughout the region. Residents enjoy a low cost of living and wide range of lifestyle activities including hunting, fishing, numerous parks, golf courses, museums, theatre, and symphony. Texarkana offers an array of shopping and dining opportunities from large national chains to unique locally-owned businesses, providing residents plentiful cultural, career, and educational opportunities.

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The Property has maintained a historically high occupancy and presents a strong value-add opportunity.

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The asset is adjacent to Creekside South, a 196-unit multifamily community which is under our ownership and management. The acquisition of Creekside North allows us to effectively combine both properties to capture operational efficiencies and provide additional community amenities for residents living in both complexes. Combining the operations of the assets will reduce the payroll burden for both properties and lower other operating expenses as well.

The amenity package of Creekside North is extremely limited; our business plan includes adding BBQ grills, a playground, and a picnic area by the pool, upgrading the laundry facility, and adding a sport court.

The investment’s proposed financing is a fixed-rate, 10-year Fannie Mae loan. This conservative loan eliminates refinance and interest rate risk.