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THE HIGHLANDS

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  • The Highlands Apartments

Multifamily

The Highlands is a 2008-built, 116 unit, Class “A” apartment community located in Lafayette, LA.

The project consists of one, two and three bedroom apartment units averaging 1,345 SF and was built for an all-in cost of $13.5mm by a local developer. The Property was acquired by Gulfstream in July ’10 for $9.2mm via a note purchase and simultaneous deed-in-lieu. The purchase price represents a 24% discount to the senior loan balance and 40% discount to replacement cost. At the time of acquisition, the Property was 78% occupied, well below the 93%+ submarket average.

  • OBJECTIVE
  • INVESTMENT DETAILS
  • Acquire a distressed, bank-owned multifamily property and replace the bank appointed management company and receiver with The Lynd Company’s platform
  • Increase physical and online visibility and traffic through online promotional programs and updated marketing collateral
Investment Type: Distressed Multifamily Opportunity
Property Type: Multifamily
Status: The Highlands has become the premier multifamily property in Lafayette, Louisiana.
Acquisition: June 2010
Disposition: Ongoing

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  • Location Lafayette, LA
  • RECENT NEWS

    • Ft. Worth Closing of a Land and Loan Venture
    • Austin Mezzanine Loan Closing Announcement
    • Cassidy Ridge Closing Announcement
    • Recent Investments

      • South Tower CityPlace
      • Tranquil Court
      • 3949 Lindell

    9301 N. Central Expressway, Tower 2, Suite 335, Dallas, TX 75231

    214.666.8526

    info@gulfstreamcap.com

    Copyright 2015 Gulfstream Capital Group LLC. All rights reserved.

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    • RECENT NEWS

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      • Ft. Worth Closing of a Land and Loan Venture04/27/2016
      • Austin Mezzanine Loan Closing Announcement05/05/2015
      • Cassidy Ridge Closing Announcement12/12/2014
      • Campus Suites Closing AnnouncementCampus Suites Apartments Closing Announcement04/01/2011
      • 3949 Lindell Campus Core Campus Suites CityPlace Closing Falcon Lake Apartments South Tower The Highlands