210 Units In Houston TX

Beckley

Beckley, 210-unit, 1999-built apartment complex in the Rosslyn submarket of Northwest Houston.

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Location

Beckley is in the Rosslyn submarket of Northwest Houston, conveniently near the recently expanded U.S. Route 290 as well as Beltway 8. This location offers easy access to Houston’s major employment centers. Beckley is zoned to the highly acclaimed Cypress-Fairbanks Independent School District, the #2 rated best school district in Harris County (Niche.com).

Background

H Squared Capital strategically collaborated with a key partner to successfully acquire Beckley, initially presented within a four-property portfolio that faced setbacks amid the market's late 2022 cooldown. The steadfast monitoring of this venture by our partners uncovered an opportune moment for acquisition, coinciding with a recent softening in pricing. Leveraging their established transactional rapport with the broker and the proven success of the HFC program, our partners not only reassured the seller but also solidified the deal, showcasing the prowess of our collaborative approach and their ability to navigate complex market dynamics.

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Business Plan

The Houston HFC Portfolio comprises 666 units across three multifamily properties: Beckley (1999), Highland (1994), and Meritage (2008), with 210, 216, and 240 units, respectively. All three assets will be placed in tax-exempt Housing Finance Corporations (“HFC”)in partnership with the Houston Housing Authority. This will exempt 100% of property tax, resulting in an outstanding risk-reward trade-off. NOI increases immediately due to the tax exemption with minimal operational risk.