Property at a Glance
Investment Highlights
ASSUMABLE BELOW-MARKET FINANCING
The asset carries an assumable $36.6M Freddie Mac loan fixed at 4.19% on a full-term interest-only basis, well inside today’s prevailing rates.
PREMIER MAIN & MAIN LOCATION ADJACENT TO MIDLAND’S LARGEST EMPLOYERS
The Residence at Midland occupies a true “Main & Main” location and is the only multifamily community within walking distance of four of the region’s highest-paying employers—ConocoPhillips, Chevron, EOG Resources, and Occidental Petroleum.
This unmatched live-work convenience provides residents with direct access to Midland’s premier employment hub while offering seamless connectivity to the area’s major commercial corridors and neighboring Odessa.
ATTRACTIVE BASIS WELL BELOW REPLACEMENT COST
The property is being offered at a significant discount to current replacement cost, allowing investors to acquire a stabilized, income-producing asset at a basis materially below what it would cost to build new in today’s construction and financing environment.
TIGHT SUPPLY DYNAMICS FUELING FUTURE RENT GROWTH
With no new supply delivering to the broader market and no concessions currently being offered, the asset is ideally positioned to capitalize on a constrained competitive set and capture outsized near-term rent growth.
Location HIGHLIGHTS
Booming Industries
ENERGY (OIL & GAS)- Midland is at the heart of the Permian Basin, one of the most productive oil fields in the world.
- Global energy giants like Chevron, Exxon-Mobil, ConocoPhillips, and Pioneer Natural Resources have major operations here.
- The city consistently ranks top-two nationally in GDP per capita, including #1 rankings in 2021 and 2023, underscoring exceptional income generation and economic productivity.
AEROSPACE & SPACE TECHNOLOGY
- Midland is emerging as a hub for aerospace innovation, with companies like AST SpaceMobile and Starfighters Space establishing operations.
- The city hosts hypersonic testing initiatives and commercial spaceflight projects, signaling long-term growth beyond oil.
HEALTHCARE & EDUCATION
- Midland Health and the Midland Independent School District are among the largest employers.
- Growing demand for medical services and education supports steady job creation outside the energy sector.
LOGISTICS & PROFESSIONAL SERVICES
- Midland’s location and skilled workforce make it attractive for distribution, logistics, and business services.
- Professional services (law, finance, engineering) are expanding alongside industrial growth.
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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