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Arbor Pines Apartments
Class C Multifamily Garden
Angleton, TX |
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| Arbor Pines was acquired by e2 Real Estate Partners I in July of 2007. This 140-unit complex features one bedroom/one bath through three bedroom/two bath units. Significant rehab to the property completed during the second half of 2007 included new roofs on all buildings; removal of an inoperative swimming pool; repair and/or replacement of balconies, stairs, siding and trim; new exterior paint everywhere; new A/C units as needed; improved drainage; new signage; upgraded efficient exterior lighting. Interior renovations have included an update all office interiors; complete overhaul of six down units; and complete update on 75% of units to date (lease turns). These renovations, along with our consistent implementation of disciplined management, have brought our net operating income up 80% and physical occupancy up to near peak.
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Tradewinds Apartments
Class C Multifamily Garden
Texas City, TX |
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| Tradewinds features 128 units ranging from one bedroom/one bath to three bedroom/two bath layouts. The property was purchased by e2 Real Estate Partners II in May of 2008. The property features a sparkling pool; fitness center; business center; community clubroom; select covered parking; select fenced-in patios or balconies; and a 24-hour laundry facility. Newly renovated interiors feature faux wood flooring, central A/C and heat; designer lighting; frost free refrigerators; fireplaces and washer/dryer connections in select units. The location is very near local schools, shopping and area employers. Physical occupancy and net operating income have increased steadily.
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3700 Garth
Class B Multifamily Garden
Baytown, TX |
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| The recent acquisition of Logans Pointe, renamed to 3700 Garth, was completed by e2 Real Estate Partners III in August of 2008. This 256-unit property will shine with the restoration to B class operation of the buildings, office, spacious fitness center, lush swimming pool, tennis court, picnic area, club room, and other amenities. Planned interior renovations include faux wood flooring, designer lighting, two-toned paint, and updated surfaces. Upgraded street access, new signage and landscaping will be welcome improvements. New management personnel are in place and are implementing e2 Property management policies, which will result in a rapid transition to profitable operations.
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