2327 South Arizona Street, PECOS , TX 79772
144-UNITS IN PECOS, TX BUILT IN 2021
Visit Doc CenterWellspring Apartments
Investment Highlights
01
Assumable HUD financing at 3.22% fixed through 2061
Assumable HUD financing at 3.22% fixed through 2061, a long-term cost of capital that cannot be replicated in today’s market
02
Explosive data center demand
Explosive demand across the Trans-Pecos as AI infrastructure and data center build-out reshape the regional economy
03
Low cost Permian power grid
Energy abundance, with low-cost Permian power and grid capacity luring Hyperscalers
04
Newest and highest quality apartments in the market
Most recently delivered community in the submarket, sitting at the top of the rent stack with no competing new supply underway
05
Supply-constrained rental corridor
Positioned in a supply-constrained rental corridor absorbing in-migration from energy, healthcare and construction payrolls
06
Across from a new $110 MM hospital
Directly across from a new $110 MM hospital, a durable institutional-grade demand driver
07
Proven operations
Proven operations, with standout resident reviews and a tenured on-site team, half in place since inception
08
Demonstrated income momentum
Demonstrated income momentum, with asset-level income up 8.82% and embedded runway in rents and expense efficiency
Area Highlights
BOOMING INDUSTRIES
- Oil & Gas: Reeves County is consistently in the top one or two for rig counts, and the state’s largest producer of natural gas. With 66 active producers in Reeves County, Pecos ranks third in Texas for barrels of oil equivalent (BOE) produced.
- Construction & Infrastructure: Fueled by ongoing energy investment, healthcare expansion, and improvements to water, wastewater, transportation, and public infrastructure systems.
- Retail & Hospitality: Expanding to support a growing workforce and increasing business activity.
- Agriculture: Historically known for cantaloupe farming, ranching, and agricultural production.
- Transportation & Warehousing: Supported by Interstate 20, U.S. Highway 285, and regional logistics networks serving the Permian Basin.
- Healthcare & Education: Increasing demand supported by regional population growth and continued economic development.
AI & DIGITAL INFRASTRUCTURE GROWTH
- Microsoft Project Pecos
- Amazon / GW Ranch AI Campus
- Alpha Digital Campus (LandBridge / PowerBridge)
- Core Scientific expansion
- Access to Permian Basin natural gas and behind-the-meter power generation
STRATEGIC LOCATION
- Pecos is located in the heart of the Delaware Basin, one of the most productive oil and natural gas regions in North America.
- As the largest city between Midland-Odessa and El Paso along Interstate 20, Pecos serves as a regional hub for commerce, logistics, energy, healthcare, and business services.
POPULATION & WORKFORCE
The West Texas region, which includes several basins such as the Permian Basin and parts of the Trans-Pecos area, most recent estimates site a population of approximately 630,000 to 650,000 people.
- Projected job growth of 3% over the next decade.
- Diverse employment base supporting long-term economic resilience.
BUSINESS INCENTIVES
- Tax Abatements: Existing agreements provide up to 100% property tax abatement for qualifying developments. Wellspring Apartments currently benefits from city and county tax abatements with approximately nine years remaining.
- Chapter 380/381 Agreements: Local economic development programs that provide incentives for qualifying projects.
- TIRZ Zones: Tax Increment Reinvestment Zones encourage redevelopment and infrastructure investment.
- Workforce Development: Access to state-sponsored workforce training and skills development programs.
The Location
Gallery
Contact
Dallas Office
5960 Berkshire Lane
Suite 1000
Dallas, TX 75225
Investment Advisors
Bart Wickard
Senior Managing Director
214.360.3848
[email protected]
TX DRE # 609281
Matt Wideman
Managing Director
214.360.3847
[email protected]
TX DRE # 673251
2337 SOUTH ARIZONA STREET, PECOS , TX 79772
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