Avila

Before

Avila - Waco, TX

Avila was an attractive value add acquisition that was well-poised to deliver strong cash on cash returns along with capital appreciation to investors. This 327-unit property was acquired in February, 2016 by Prasiti Investments. The asset is ideally located in Waco, TX, a strong secondary market due to its diverse employment base and close proximity to Dallas and Austin. Prior to takeover occupancy at Avila (formally known as Sanger Oaks) had been in the high 80’s to low 90’s, lagging the sub-market average of 96.7%. In addition, there was a significant opportunity to drive rent increases through the curing of deferred maintenance, upgrading the common areas and unit interiors to better compete in the marketplace. We recently refinanced the loan resulting in another exciting outcome!

After