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2900 Wildflower Dr. - Bryan, TX 77802
PROPERTY OVERVIEW
Highland Villas Luxury Apartment Homes is a 180-unit affordable housing community situated in Bryan, TX. The property enjoys a convenient location just minutes away from prominent retailers such as Walmart Supercenter, Target, and Kroger. Additionally, a variety of restaurants, outdoor recreational areas, schools, and major transportation routes are in close proximity to the community.
The property was built and placed in service in 2014 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There are existing regulatory agreements in place which require all units to be rented to income qualifying residents earning no more than 30%, 50%, and 60% of the Area Median Income (AMI) limits, which are provided by the Texas Department of Housing and Community Affairs.
Highland Villas Luxury Apartment Homes provides a range of one, two, and three bedroom apartment homes that offer an array of unit and community amenities for the comfort and enjoyment of its residents.
Excellent opportunity to acquire the general partner interest in a well performing asset with a strong demonstrated cash flow stream
Terrific rental upside as the property is operating at 10% loss to lease to the current max tax credit allowable rents
Texas A&M University, one of the largest universites in the country with an enrollment of over 77,000 students, is located just five miles from the property
The property is operating at a $300+ discount to comparable market rate assets, resulting in stable operations and low turnover
INVESTMENT HIGHLIGHTS
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PROPERTY Stats
180
UNITS
2014
Built
171,977
sF
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 loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
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Senior Managing Director
Multifamily
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
MIKE TERRY
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
INVESTMENT ADVISORS
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
Contacts and Office Locations
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 loan brokerage business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Senior Managing Director
Multifamily
512.226.8706
kelly.witherspoon@berkadia.com
Kelly Witherspoon
Director
Affordable Housing
425.761.1640
mike.terry@berkadia.com
MIKE TERRY
Senior Managing Director
Affordable Housing
253.653.3313
brandon.grisham@berkadia.com
BRANDON GRISHAM
INVESTMENT ADVISORS
2500 Bee Cave Rd.
Building 3, Suite 550
Austin, TX 78746
AUSTIN OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
Contacts and Office Locations