Dell Marr

2800 W. Walnut & 410 N International Rd, Garland, TX 75042

INVESTMENT SUMMARY

Dell Marr is a 122-unit Workforce Housing community located just East of Richardson within the city of Garland. EMG acquired this asset realizing there was an opportunity to both substantially increase gross rents and to cut expenses. This resulted in a 25% increase of net income. The community was built in 1968 and has never changed ownership until now. The acquisition was negotiating principal to principal and there were no brokers involved.

PROPERTY DETAILS

• 122 units
• 84,504 sq ft
• Pride of Ownership Asset

INVESTMENT DETAILS

• EMG negotiated this purchase off-market directly with ownership
• Dell Marr was built by the sellers and has always been in the same ownership
• This asset remains over 97% occupied consistently
• Strong rental submarket strategically located within blocks of several large distribution centers
• This asset was acquired at a 9% discount from fair market value