250 UNITS IN MIDLAND, TX | BUILT IN 2014
Visit Doc CenterPROPERTY SUMMARY
- TOTAL UNITS
- YEAR BUILT
- OCCUPANCY
- RENT PER SF
- AVERAGE SF
- AVERAGE RENT
Investment Highlights
Premier Market Positioning in the Heart of the Permian Basin
- Midland sits at the center of the Permian Basin, one of the most productive energy regions globally, with major operations from Chevron, ExxonMobil, ConocoPhillips, and Pioneer Natural Resources.
- The city consistently ranks top two nationally in GDP per capita, underscoring exceptional income generation and economic productivity.
- While energy remains a key driver, the local economy has broadened to include aerospace, healthcare, education, logistics, and professional services, supporting long term housing demand.
Limited New Supply & Attractive Basis
- No new multifamily supply is currently planned or under construction, creating a favorable competitive environment for existing Class A assets.
- The property is offered at a very attractive in place cap rate, with a purchase basis well below recent comparable Class A transactions, providing immediate yield and downside protection.
Institutional Quality Asset with Strong Competitive Positioning
- 2014 vintage, institutionally owned and managed Class A community in a strong location.
- Distinct amenity package including two resort style pools, fitness center, business center, and modern community spaces, positioning the asset at the top of the local market.
- Unit mix and average size (889 SF) support premium renter demand while maintaining broad appeal.
Consistent Performance with Clear Upside
- Rents have grown approximately 2% over the past 12 months while maintaining ~96% occupancy and low economic loss, reflecting durable in place demand.
- Average household income exceeding $107,000 limits affordability pressure on the renter base.
- In place rents remain below submarket levels, creating opportunity for additional rent growth through targeted value add initiatives and continued operational optimization.
Location
Photo Gallery
Contact Us
INVESTMENT SALES
BART WICKARD
Senior Managing Director
2214.223.6462
[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]
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