5244 W LOOP 250 N,
MIDLAND, TX 79707
1982
BUILT
Quick Stats
Property Summary
ReNew Fairmont Park represents a compelling opportunity to acquire a stabilized, incomeproducing multifamily asset strategically located along Midland’s highly trafficked Loop 250 corridor. The property benefits from strong regional economic fundamentals driven by the Permian Basin, one of the most productive oil and gas regions in the world. With a diversified unit mix, competitive amenities, and a combination of marketrate and affordable units, the asset offers both immediate cash flow and meaningful valueadd potential.
INVESTMENT HIGHLIGHTS
Attractive Assumable Debt
- Offered both free and clear and with assumable financing at a 3.76% interest rate. New financing is an option for those who prefer new debt.
Proven Value in Upgraded Units
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The asset has asking rents more than $200 per month on renovated units over classic units. This provides a buyer with proven upside through a systematic renovation program.
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Current average rents are materially below comparable Class B assets in Midland–Odessa, offering built in upside without requiring heavy renovation.
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Strong affordability positioning ensures durable occupancy and broad tenant appeal.
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Strategic Midland Location
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Located in the Permian Basin capital, the nation’s most prolific energy hub with limited new multifamily supply.
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Data Center & Energy Demand Tailwinds
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U.S. data center expansion is driving unprecedented electricity demand.
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Midland’s role in the Permian Basin energy supply chain positions the market as critical to meeting national power needs.
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Platinum Level Renovation
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The units in Building 14 were renovated and serve as strong proof of concept for the rent upside achievable through targeted capital improvements within the asset.
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Unit 1407 underwent a complete renovation, including new cabinetry, hard surface flooring, and upgraded appliances and is currently leased at $1,660, compared to classic units of the same floor plan leasing in the mid $1,400s, demonstrating a meaningful rent premium tied to modernization, equating to a $200 / month premium.
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This example highlights the asset’s built‑in upside potential without requiring heavy renovation across the rest of the property.
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Location
Photo Gallery
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
MORTGAGE BANKING
Tucker S. Knight
Senior Managing Director
713.469.4515
[email protected]
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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