Grand Riviera

Grand Riviera is strategically located near the DFW International Airport and the Las Colinas Urban Center, Grand Riviera benefits from the robust economic growth of the area, driven by over 2,000 corporate offices and major infrastructure developments like the upcoming $3 billion Terminal F at DFW Airport. 

Starting in January 2024, LSC began tracking this deal. Pressure from equity to close out a fund led the seller to capitulate, as this was the fund's last property. With the seller prioritizing certainty of closing, LSC was selected as the buyer of choice due to its strong reputation for successful execution.

The plan includes installing 50 carports, each producing $45 per month, and 60 full-size washer/dryer machines at $50 per month. Interior renovations will feature new appliances, granite countertops, modern cabinet fronts, and backsplashes, while exterior improvements will involve repainting and refreshing amenities such as the pet park, playground, sport court, and two pools. To address deferred maintenance, LSC is budgeting for essential foundation and roof repairs.

The investment strategy includes targeting a sale or refinance within 24-36 months, with a 5-year term providing flexibility to adapt to market conditions.

LSC aims to boost other income by implementing a bulk Wi-Fi package, projected to generate $39 per unit in net income.

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