Creekside South

Creekside South’s location is at a prominent intersection in the tertiary market of Texarkana, Texas pointed to significant potential. In smaller markets like Texarkana, demand can be uncertain and fixing a reputation can be tough. Despite these challenges, Lone Star seized this opportunity: first, due to attractive going-in basis, and second, since it built on our strength in overseeing large renovation projects and turnaround business plans.

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After multiple failed marketing attempts, the seller realized that their pricing expectations were too high. Lone Star Capital’s patient tracking of the opportunity positioned us as the natural buyer to transact once better pricing was presented.

Building on the broad-based repairs to roofs, mold, landscaping, HVAC, concrete, staircases, and restoration of down units, the operational turnaround plan for Creekside South stabilized occupancy to 93%, raised asking rents +22.9%, and brought life to what had been a severely depressed property.

A vital piece of our turnaround plan was to rebrand the asset and to successfully change the culture. The property was renamed from the generic “Commons” to the more site-specific “Creekside South” to mark new ownership and management, which would operate substantially differently than previous management. In addition, relationships were rebuilt with local vendors who previously refused to do business at the property due to safety problems and past owner’s failure to pay