Collin Creek Apartments

Collin Creek Apartments

Plano, TX
Available
  • Property Type: Equity Solutions
  • Year Built : 1988
  • Property Size: / 314 Units

Overview

Capstone Equity & Structure Finance is pleased to present a Joint Venture opportunity for the acquisition of Collin Creek Apartments, a 314-unit value-add multi-family property located in Plano, Texas. Originally constructed in 1988, Collin Creek Apartments offers an abundance of high-end amenities and attractive floorplans with 9-foot or vaulted ceilings giving it the feel of a newer vintage community. The property has been professionally managed and well maintained over the past five years, leaving minimal deferred maintenance. However, current interior renovations are relatively minimal in scope and do not sufficiently reflect the asset's true potential, providing significant value-add upside for incoming investors. Despite minimal or no renovations to units on turns, the property experienced 21% organic rent growth over the past 12 months, with lease trade-outs exceeding 20% on new leases & 19% on renewals. Collin Creek is located in the coveted Plano Independent School District, which consistently ranks in the top 10% in the state of Texas. In 2021, U.S. News and World Report also named Plano as the #10 Best Place to Find a Job in the U.S. The property is just 1 mile from the $1 billion renovation of the Collin Creek Mall, which will transform the mall into a pedestrian-friendly mixed-use project that will provide excellent live, work, play amenities for area residents to enjoy.

Contact Information

Bryse Toothaker Director P: 704.727.2926
O: 800.746.3175 ext. 703
bryse@capstone-companies.com
Charlie Rimkus Associate Director P: 949.923.5542
O: 800.746.3175 ext. 784
crimkus@capstone-companies.com
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